By Laura Lutz
Des Moines, Oct. 24 - Magnus Energy Inc. settled its previously announced private placement of shares for C$9,007,210, including a fully exercised over-allotment option for C$4,001,310.
The company issued 3.646 million flow-through class A shares at C$1.51 each and 3.045 million non flow-through class A shares at C$1.15 each, including the greenshoe for 1.656 million flow-through shares and 1.305 million non flow-through shares.
The deal priced on Sept. 26 as a C$5,005,900 offering of 1.74 million non flow-through shares and C$1.99 million flow-through shares. The greenshoe originally included 870,000 non flow-through shares and 660,000 flow-through shares.
On Sept. 28, the greenshoe was increased to its final size.
The deal was completed by a syndicate of underwriters led by Dundee Securities Corp. and including Tristone Capital Inc.
Proceeds will be used for expansion and development of the company's core properties.
Calgary, Alta.-based Magnus is an oil and gas company focused on properties in Western Canada.
| Issuer: | Magnus Energy Inc.
|
| Issue: | Class A shares and class A flow-through shares
|
| Amount: | C$9,007,210 (including greenshoe for C$4,001,310)
|
| Underwriters: | Dundee Securities Corp. (lead), Tristone Capital Inc.
|
| Pricing date: | Sept. 26
|
| Amended: | Sept. 28
|
| Settlement date: | Oct. 24
|
| Stock symbol: | TSX Venture: MEI.A
|
| Stock price: | C$1.25 at close on Sept. 25
|
| Stock price: | C$1.29 at close Sept. 28
|
| Stock price: | C$1.15 at close Oct. 24
|
|
|
| Non flow-through shares
|
| Shares: | 3.045 million (includes greenshoe for 1.305 million)
|
| Price: | C$1.15
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 3.646 million (includes greenshoe for 1.656 million)
|
| Price: | C$1.51
|
| Warrants: | No
|
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