Company sells 1.48 million shares at C$11.99, 884,511 more at C$13.19
By Angela McDaniels
Tacoma, Wash., Sept. 3 – NuVista Energy Ltd. sold 2,360,655 flow-through common shares for C$29.37 million in a non-brokered private placement that priced Aug. 25.
According to a company news release, 1,476,144 of the shares (the "CDE shares") were issued at a price of C$11.99 each, and the purchasers will be entitled to renunciations of Canadian development expense.
Another 884,511 shares (the "CEE shares") were issued at a price of C$13.19 each, and the purchasers will be entitled to renunciations of Canadian exploration expense.
The prices are 10% and 21% premiums, respectively, to the company’s C$10.90 closing share price on Aug. 25.
Some directors and officers of NuVista participated in the offering and acquired 133,360 CDE shares and 57,202 CEE shares.
The company had planned to sell up to 2.4 million shares in the placement.
NuVista is an oil and natural gas exploration, development and production company based in Calgary, Alta.
| Issuer: | NuVista Energy Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$29,365,666.65
|
| Shares: | 2,360,655
|
| Prices: | C$11.99 for 1,476,144 shares and C$13.19 for 884,511 shares
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 3
|
| Stock symbol: | Toronto: NVA
|
| Stock price: | C$11.15 at close Sept. 3
|
| Market capitalization: | C$1.52 billion
|
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