Canadian Development Expense, Canadian Exploration Expense shares sold
By Devika Patel
Knoxville, Tenn., Nov. 7 - Marquee Energy Ltd. said it plans an C$8.2 million private placement of stock. The deal priced for C$7.6 million on Thursday and was increased a few hours later.
The company will sell 660,000 Canadian Development Expense flow-through common shares at C$0.90 apiece, an 8.43% premium to the Nov. 6 closing share price of C$0.83. It also will sell 8,000,500 Canadian Exploration Expense flow-through common shares at C$0.95 apiece, a 14.46% premium to the Nov. 6 closing share price.
The deal will be conducted by a syndicate of underwriters led by National Bank Financial Inc. and including Peters & Co. Ltd., Acumen Finance Partners Ltd. and Desjardins Securities Inc.
Settlement is expected Nov. 26.
Proceeds will be used for exploration.
Marquee is a junior oil and gas company in Calgary, Alta.
| Issuer: | Marquee Energy Ltd.
|
| Issue: | Canadian Development Expense flow-through common shares, Canadian Exploration Expense flow-through common shares
|
| Amount: | C$8,194,475
|
| Warrants: | No
|
| Underwriters: | National Bank Financial Inc. (lead), Peters & Co. Ltd., Acumen Finance Partners Ltd. and Desjardins Securities Inc.
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 26
|
| Stock symbol: | TSX Venture: MQL
|
| Stock price: | C$0.83 at close Nov. 6
|
| Market capitalization: | C$43.72 million
|
|
|
| Canadian Development Expense flow-through common stock
|
| Amount: | C$594,000
|
| Shares: | 660,000
|
| Price: | C$0.90
|
|
|
| Canadian Exploration Expense flow-through common stock
|
| Amount: | C$7,600,475
|
| Shares: | 8,000,500
|
| Price: | C$0.95
|
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