Non-brokered deal funds an expanded 2011 capital expenditure program
By Devika Patel
Knoxville, Tenn., Oct. 12 - RMP Energy Inc. said it completed a C$6.32 million non-brokered private placement of stock.
The company sold 2,623,895 flow-through common shares. Of the shares, 2,133,570 were sold at C$2.37 per share and 490,325 were sold at C$2.58 per share. The prices per share represent 5% and 15.52% premiums to the Oct. 11 closing share price, C$1.79.
The company also said it settled a $20 million bought-deal equity financing led by GMP Securities LP and including FirstEnergy Capital Corp., National Bank Financial Inc., Peters & Co. Ltd., AltaCorp Capital Inc., CIBC World Markets Inc., Cormark Securities Inc. and Scotia Capital Inc. In this offering, RMP sold 9,303,000 common shares at C$2.15 per share.
Proceeds from both deals will be used for an expanded 2011 capital expenditure program.
RMP is a Calgary, Alta., oil and gas company.
| Issuer: | RMP Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$6,321,599
|
| Shares: | 2,623,895
|
| Price: | C$2.37 (for 2,133,570 shares), C$2.58 (for 490,325 shares)
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Oct. 12
|
| Stock symbol: | Toronto: RMP
|
| Stock price: | C$1.79 at close Oct. 11
|
| Market capitalization: | C$160.09 million
|
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