By Sheri Kasprzak
New York, Nov. 16 - Mission Oil & Gas Inc. said it concluded its previously announced private placement for C$104,271,400, more than the originally planned size of the deal.
The company issued 12,566,000 subscription receipts at C$7.90 each and 500,000 flow-through shares at C$10.00 each.
The receipts are exchangeable on a one-for-one basis for shares once the company completes its acquisition of Bison Resources Ltd.
The offering was placed through a syndicate of underwriters led by Orion Securities Inc. and CIBC World Markets Inc. and including Tristone Capital Inc., BMO Nesbitt Burns Inc., FirstEnergy Capital Corp. and Haywood Securities Inc.
The deal was first announced Oct. 26 as a C$94.27 million offering composed of up to 11.3 million receipts and 500,000 flow-through shares under the same terms.
Proceeds from the private placement will be used for capital growth on the Bakken property and for ongoing exploration at the Peace River Arch property.
Under the terms of the Bison acquisition, Mission plans to purchase all Bison shares at C$8.65 each. A total of 4,270,105 Mission shares will be issued to Bison shareholders.
Based in Calgary, Alta., Mission is an oil and natural gas exploration company.
| Issuer: | Mission Oil & Gas Inc.
|
| Issue: | Subscription receipts and flow-through shares
|
| Amount: | C$104,271,400
|
| Underwriters: | Orion Securities Inc. (co-lead), CIBC World Markets Inc. (co-lead); Tristone Capital Inc., BMO Nesbitt Burns Inc., FirstEnergy Capital Corp., Haywood Securities Inc.
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 16
|
| Stock price: | C$8.48 at close Oct. 26
|
| Stock price: | C$7.65 at close Nov. 15
|
|
|
| Subscription receipts
|
| Receipts: | 12,566,000
|
| Price: | C$7.90
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 500,000
|
| Price: | C$10.00
|
| Warrants: | No
|
|
|
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