By Sheri Kasprzak
Atlanta, June 20 - Mission Oil & Gas Inc. said it has priced a private placement for C$12.3 million.
The company plans to sell 1.5 million shares at C$8.20 each.
A syndicate of underwriters led by GMP Securities Ltd. and Orion Securities Inc., and including Tristone Capital Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., FirstEnergy Capital Corp. and Haywood Securities Inc. also have an over-allotment option for up to 500,000 additional shares for up to C$4.1 million in additional proceeds.
The deal is expected to close July 7.
Based in Calgary, Alta., Mission is an oil and natural gas exploration and development company. The proceeds will be used to expand the development of the company's core properties in Alberta and Saskatchewan, for the development of the company's light oil Bakken play and for possible acquisitions.
Issuer: | Mission Oil & Gas Inc.
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Issue: | Stock
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Amount: | C$12.3 million
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Shares: | 1.5 million
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Greenshoe: | For up to 500,000 shares
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Price: | C$8.20
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Warrants: | No
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Underwriters: | GMP Securities Ltd. (lead); Orion Securities Inc. (lead); Tristone Capital Corp.; CIBC World Markets Inc.; BMO Nesbitt Burns Inc.; FirstEnergy Capital Corp.; Haywood Securities Inc.
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Pricing date: | June 17
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Settlement date: | July 7
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Stock price: | C$8.40 at close June 17
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