By Devika Patel
Knoxville, Tenn., Jan. 7 - NuVista Energy Ltd. announced it will raise up to C$84 million in a private placement of units.
The company will sell 6 million units at C$14.00 apiece to the Ontario Teachers' Pension Plan. Each unit consists of one common share and a half-share warrant. The warrants are exercisable at C$15.50 for one year.
Settlement is expected in mid-March.
Proceeds will be used to reduce debt.
Calgary, Alta.-based NuVista is an oil and natural gas exploration, development and production company with properties located in east central Alberta and west central Saskatchewan.
| Issuer: | NuVista Energy Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$84 million
|
| Units: | 6 million
|
| Price: | C$14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$15.50
|
| Investor: | Ontario Teachers' Pension Plan
|
| Pricing date: | Jan. 7
|
| Stock symbol: | Toronto: NVA
|
| Stock price: | C$14.33 at close Jan. 4
|
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