By Laura Lutz
Des Moines, Aug. 1 - Rock Energy Inc. plans to conduct a private placement of shares for up to C$15 million and at least C$10 million.
The company has agreed to sell common shares to ARC Energy Fund 5 for C$4.05 per share.
The exact deal size will be set to provide proceeds equal to the cash consideration that Rock will be required to pay for a planned acquisition of a private oil and gas company. The placement will include at least 2,469,136 shares and no more than 3,703,704 shares.
Proceeds will be used for the acquisition. Any remaining balance will be used for drilling.
FirstEnergy Capital Corp. is the agent.
Rock is an oil and gas exploration and development company based in Calgary, Alta.
| Issuer: | Rock Energy Inc.
|
| Issue: | Common shares
|
| Amount: | C$15 million (maximum); C$10 million (minimum)
|
| Shares: | 3,703,704 (maximum); 2,469,136 (minimum)
|
| Price: | C$4.05
|
| Warrants: | No
|
| Agent: | FirstEnergy Capital Corp.
|
| Investor: | ARC Energy Fund 5
|
| Pricing date: | Aug. 1
|
| Stock symbol: | Toronto: RE
|
| Stock price: | C$4.00 at close July 31
|
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