Bought deal financingDefiant arranges $7.22-million bought-deal financing
2005-02-10 09:11 ET - News Release
Mr. David Evans reports
DEFIANT RESOURCES CORPORATION ANNOUNCES COMMON SHARE PRIVATE PLACEMENT
Defiant Resources Corp. has entered into a common share financing agreement, on a bought-deal basis, with a group of underwriters led by Raymond James Ltd., and including GMP Securities Ltd., Clarus Securities Inc., Canaccord Capital Corp., McFarlane Gordon Inc., Salman Partners Inc. and Dundee Securities Corp. Defiant Resources will issue 2.95 million common shares at $2.55 per share for total gross proceeds of $7,522,500 pursuant to certain exemptions from prospectus requirements. The private placement is expected to close on March 3, 2005, and is subject to regulatory approval and completion of definitive documentation.
Proceeds of the common shares offering will be used to finance the company's 2005 capital program.