Brokered financing offers securities as part of qualifying transaction
By Devika Patel
Knoxville, Tenn., Nov. 1 - Reviso Energy Ltd. said it has decided to sell more flow-through common shares in a private placement. The deal, which priced for C$3.5 million Oct. 1, is being conducted on a commercially reasonable efforts basis as part of the company's qualifying transaction. The company will still raise only up to C$3.5 million.
The company will now sell 3,508,772 flow-through common shares at C$0.57 apiece for up to C$2 million. It originally planned to sell up to 1,754,386 flow-through shares for C$1 million.
The company also will sell 5 million common shares at C$0.50 apiece for up to C$2.5 million.
The prices per share represent 32.94% and 41.18% discounts to C$0.85, the Sept. 30 closing share price.
Raymond James Ltd. is leading a syndicate of agents for the deal which includes National Bank Financial Inc., Macquarie Capital Markets Canada Ltd. and Emerging Equities Inc.
Settlements of the placement and qualifying transaction are expected Nov. 15.
The capital pool company is based in Calgary, Alta.
| Issuer: | Reviso Energy Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$3.5 million (maximum)
|
| Warrants: | No
|
| Agent: | Raymond James Ltd. (lead), National Bank Financial Inc., Macquarie Capital Markets Canada Ltd. and Emerging Equities Inc.
|
| Pricing date: | Oct. 1
|
| Revised: | Nov. 1
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: AVG.P
|
| Stock price: | C$0.85 at close Sept. 30
|
| Market capitalization: | C$3.48 million
|
|
|
| Flow-through shares
|
| Amount: | C$2 million (maximum)
|
| Shares: | 3,508,772
|
| Price: | C$0.57
|
|
|
| Common shares
|
| Amount: | C$2.5 million (maximum)
|
| Shares: | 5 million
|
| Price: | C$0.50
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
