Manitok seals C$18.1 million stock placement with C$452,050 tranche

Deal priced for C$15 million, but was increased twice to meet demand

By Devika Patel

Knoxville, Tenn., Jan. 3 - Manitok Energy Inc. said it has completed the second and final tranche of a private placement. The deal priced for C$15 million on Nov. 29 and was increased to C$17 million on Dec. 16 and to C$18.1 million on Dec. 22. Manitok took in C$17.64 million on Dec. 22 and raised C$452,050 in the second tranche on Dec. 31, raising the full C$18.1 million.

The company sold a total of 10,356,900 common shares at C$1.00 apiece and 6,728,689 flow-through common shares at C$1.15 apiece. In the first tranche, Manitok sold 10,031,500 common shares and 6,618,559 flow-through shares. It sold 325,400 common shares and 110,130 flow-through shares in the second tranche.

The prices per share represent a 3.85% discount and a 10.58% premium to C$1.04, the Nov. 26 closing share price.

The deal was conducted by agent Integral Wealth Securities Ltd. on a best-efforts basis.

The oil and gas company is based in Calgary, Alta.

Issuer:	Manitok Energy Inc.
Issue:	Flow-through common shares, common shares
Amount:	C$18,094,893
Warrants:	No
Agent:	Integral Wealth Securities Ltd.
Pricing date:	Nov. 29
Upsized:	Dec. 16, Dec. 22
Settlement date:	Dec. 22 (for C$17,642,843), Dec. 31 (for C$452,050)
Stock symbol:	TSX Venture: MEI
Stock price:	C$1.04 at close Nov. 26
Market capitalization:	C$20.58 million
Flow-through shares
Amount:	C$7,737,992
Shares:	6,728,689
Price:	C$1.15
Common shares
Amount:	C$10,356,900
Shares:	10,356,900
Price:	C$1.00

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