VLE last raise Press Release – February 8, 2018
Valeura Energy Inc. (“Valeura” or the “Corporation”) (TSX: VLE) is pleased to announce that, in connection with its previously announced bought deal financing, Valeura and the syndicate of underwriters led by GMP FirstEnergy and including Cormark Securities Inc. (collectively, the “Underwriters”), have agreed to increase the size of the financing (the “Offering”). Valeura will now issue 10,527,000 common shares at $5.70 per common share for aggregate gross proceeds of approximately $60 million.
The Corporation expects to use the net proceeds of the Offering to fund the continued appraisal of its basin-centered gas play in Turkey and for general corporate purposes.