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Avere cancels C$7.2 million private placement of subscription receipts
By Devika Patel
Knoxville, Tenn., April 19 - Avere Energy Inc. said that, despite its best efforts, it was unable to raise the required funds for a reactivation and has cancelled plans for a C$7.2 million private placement of subscription receipts.
The deal priced Feb. 9.
The natural gas explorer is based in Calgary, Alta.
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