By Jennifer Chiou
New York, Dec. 5 - Triton Energy Corp. said it entered into a private placement on a bought-deal basis for C$2.5 million of flow-through common shares.
Under the agreement, Triton will issue 6,666,667 common shares on a flow-through basis at $0.375 per flow-through common share. In addition, Acumen Capital Finance Partners Ltd., the underwriter, has an option for up to an additional 3,333,334 flow-through shares at a price of $0.375 per flow-through common share, which would result in an additional C$1.25 million.
Settlement is slated for Dec. 19.
Proceeds will go toward funding qualifying expenditures on the company's petroleum and natural gas properties.
Triton is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Triton Energy Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.5 million
|
| Greenshoe: | C$1.25 million for an additional 3,333,334 flow-through shares
|
| Shares: | 6,666,667
|
| Price: | C$0.375
|
| Warrants: | No
|
| Underwriter: | Acumen Capital Finance Partners Ltd.
|
| Announcement date: | Dec. 5
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: TEZ
|
| Stock price: | C$0.30 at close Dec. 4
|
| Market capitalization: | C$10.42 million
|
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