By Sheri Kasprzak
New York, July 7 - Mission Oil & Gas Inc. said it has closed its previously announced private placement for C$16.4 million following the exercise of an over-allotment option.
The company sold a total of 2 million shares at C$8.20 each with 500,000 of those shares sold under a greenshoe exercised by a syndicate of underwriters led by GMP Securities Ltd. and Orion Securities Inc.
The syndicate also included Tristone Capital Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., FirstEnergy Capital Corp. and Haywood Securities Inc.
The offering was first announced June 17 as a C$12.3 million deal comprised of 1.5 million shares under the same terms.
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$16.4 million
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| Shares: | 2 million (includes greenshoe for 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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| Stock price: | C$7.81 at close July 7
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