Petrolifera arranges $40-million bought deal
Petrolifera arranges $40-million bought deal
2008-06-11 16:12 ET - News Release
Shares issued 50,353,010
PDP Close 2008-06-10 C$ 9.39
Mr. R.A. Gusella reports
PETROLIFERA PETROLEUM ANNOUNCES $40 MILLION BOUGHT DEAL FINANCING
Petrolifera Petroleum Ltd. has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets under which Petrolifera will issue 4,445,000 common shares at $9.00 per common share, on a bought deal basis, for gross proceeds of approximately $40-million. Petrolifera has granted the underwriters an overallotment option to purchase up to an additional 666,750 common shares on the same terms and conditions, exercisable in whole or in part up to 30 days following closing of the offering. The offering is scheduled to close on or about June 27, 2008.
The net proceeds of the offering will be used by Petrolifera to finance the remaining portion of its 2008 capital spending program in Argentina, Colombia and Peru. A preliminary short-form prospectus will be filed with securities regulatory authorities in all provinces of Canada except Quebec.