By Sheri Kasprzak
Atlanta, Feb. 3 - Forte Resources Inc. said it will raise C$15.6 million in a private placement of stock.
The company will sell 4 million shares at C$3.90 each.
The deal is being placed by a syndicate of underwriters led by FirstEnergy Capital Corp. and including GMP Securities Ltd. and Haywood Securities Inc.
The offering is expected to close Feb. 24.
Calgary, Alta.-based Forte is an oil and gas exploration company. The proceeds will be used to fund the company's exploration and development activities. The remainder will be used for general corporate purposes.
| Issuer: | Forte Resources Inc.
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| Issue: | Stock
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| Amount: | C$15.6 million
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| Shares: | 4 million
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| Price: | C$3.90
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| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead); GMP Securities Ltd.; Haywood Securities Inc.
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 24
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| Stock price: | C$4.05 at close Feb. 2
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