By Devika Patel
Knoxville, Tenn., Dec. 19 - Triton Energy Corp. said it settled a private placement of flow-through common shares for C$2.95 million. The deal priced for C$2.5 million with a C$1.25 million greenshoe on Dec. 5.
Triton sold 7,856,500 common shares on a flow-through basis at C$0.375 per share on a bought-deal basis. Of the shares sold, 1,189,833 were part of the partially exercised greenshoe.
Acumen Capital Finance Partners Ltd. was the underwriter.
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$2,946,187.50 (including C$446,187.50 greenshoe)
|
| Shares: | 7,856,500
|
| 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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