The last PP I am sure the players in this last PP are not to thirilled with this new one either
should be well over a buck maybe two glta
Granite Oil Corp. Announces Closing of $16.5 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - June 15, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to announce that it has closed its previously announced bought deal financing. A total of 2,324,300 common shares have been issued at a price of $7.10 per common share for gross proceeds of $16,502,530, which included the exercise in full of the over-allotment option granted to the underwriters (the "Offering").
The syndicate of underwriters was co-led by National Bank Financial Inc. and Raymond James Ltd., and included Cormark Securities Inc., CIBC World Markets Inc., Dundee Securities Ltd., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
The net proceeds of the Offering will initially be used to reduce bank indebtedness and then subsequently redrawn to expand the drilling program in the core of Granite's Alberta Bakken property and to accelerate the development of Granite's West Alberta Bakken acreage. Granite has a 100% working interest land position in both the core and the West areas.