By Sheri Kasprzak
New York, April 3 - Masters Energy Inc. priced a C$6.1 million private placement.
The deal includes up to 1 million flow-through shares.
The offering is being placed through a syndicate of underwriters led by FirstEnergy Capital Corp. and GMP Securities LP and including Dundee Securities Corp., MGI Securities Inc., Raymond James Ltd., Canaccord Adams Ltd., Haywood Securities Inc. Octagon Capital Corp. and Tristone Capital Inc.
Proceeds will be used for a portion of the company's 2006 exploration program.
The deal is scheduled to close April 21.
Calgary, Alta.-based Masters is an oil and natural gas exploration company.
| Issuer: | Masters Energy Inc.
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| Issue: | Flow-through shares
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| Amount: | C$6.1 million
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| Shares: | 1 million
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| Price: | C$6.10
|
| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead), GMP Securities LP (lead), Dundee Securities Corp., MGI Securities Inc., Raymond James Ltd., Canaccord Adams Ltd., Haywood Securities Inc., Octagon Capital Corp., Tristone Capital Inc.
|
| Pricing date: | April 3
|
| Settlement date: | April 21
|
| Stock symbol: | Toronto: MSY
|
| Stock price: | C$4.89 at close March 31
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