Crude oil and natural gas company will use proceeds for exploration
By Devika Patel
Knoxville, Tenn., May 14 - Tourmaline Oil Corp. said it will conduct a C$68.15 million private placement of stock. The deal priced for C$51.11 million on Wednesday and was increased a few hours later.
The company will sell 1 million flow-through common shares at C$68.15 apiece. The price per share represents a 23.46% premium to C$55.20, the May 13 closing share price.
The deal will be conducted on a bought deal basis by a syndicate of underwriters led by Peters & Co. Ltd. and including FirstEnergy Capital Corp., Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Capital Markets and TD Securities Inc.
Settlement is expected June 2.
Proceeds will be used for exploration.
The crude oil and natural gas company is based in Calgary, Alta.
| Issuer: | Tourmaline Oil Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$68.15 million
|
| Shares: | 1 million
|
| Price: | C$68.15
|
| Warrants: | No
|
| Agent: | Peters & Co. Ltd. (lead), FirstEnergy Capital Corp., Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Capital Markets and TD Securities Inc.
|
| Pricing date: | May 14
|
| Settlement date: | June 2
|
| Stock symbol: | Toronto: TOU
|
| Stock price: | C$55.20 at close May 13
|
| Market capitalization: | C$3.55 billion
|
© 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.
