Rock Energy Inc. Announces Exercise of Over-Allotment Option by Underwriters
CALGARY, ALBERTA--(Marketwired - March 4, 2015) -
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Rock Energy Inc. ("Rock" or the "Company") (TSX:RE) is pleased to announce it has closed the over-allotment option on its previously announced bought-deal financing (the "Offering"), with a syndicate of underwriters led by Dundee Securities Ltd. and including Acumen Capital Finance Partners Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., Haywood Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and GMP Securities L.P. (collectively, the "Underwriters"), pursuant to which the Underwriters purchased an additional 840,000 common shares at a price of $2.35 for aggregate gross proceeds of $1,974,000. Closing of the over-allotment option brings the aggregate gross proceeds of the Offering to $15,134,000.
The net proceeds from the Offering will be initially used to temporarily reduce indebtedness, partially finance the Company's 2015 capital expenditure program and for general corporate purposes.
Rock is a Calgary-based crude oil exploration, development and production company.