By Devika Patel
Knoxville, Tenn., March 16 - Triton Energy Corp. said it plans a private placement of shares to raise C$7.5 million.
The company will sell 34.1 million flow-through common shares at C$0.22 each on a bought-deal basis.
The deal will be conducted by an underwriting syndicate led by National Bank Financial Inc. and including FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc. and Raymond James Ltd.
Settlement is expected March 31.
Proceeds will be used to finance Triton's capital expenditures program for this year and next.
Triton is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Triton Energy Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$7,502,000
|
| Shares: | 34.1 million
|
| Price: | C$0.22
|
| Warrants: | No
|
| Agents: | National Bank Financial Inc. (lead), FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc. and Raymond James Ltd
|
| Pricing date: | March 16
|
| Settlement date: | March 31
|
| Stock symbol: | TSX Venture: TEZ
|
| Stock price: | C$0.20 at close March 15
|
| Market capitalization: | C$7.86 million
|
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