UPDATE 1-NuVista announces property, equity deals
* To acquire properties in British Columbia, Alberta
* To pay a total of about C$176 mln for both properties
* To raise C$99 mln via two equity offerings
TORONTO, June 15 (Reuters) - NuVista Energy (NVA.TO) said on Monday it has agreed to acquire certain properties located in the Martin Creek area of northeast British Columbia and in northwest Alberta for C$176 million in cash, in a bid to expand its reserves.
The deal will be funded through a combination of existing bank debt and the net proceeds of two equity offerings, the company said in a statement.
NuVista said it will raise a total of C$99 million via two discounted-equity offerings. NuVista has an existing credit facility of C$450 million under which about C$350 million is currently drawn.
The company has entered into a bought-deal agreement and a private placement agreement to sell a total of 9 million shares at a price of C$11 per share -- a 2.3 percent discount to Friday's closing price of C$11.26 on the Toronto Stock Exchange.
NuVista said the acquired properties are currently producing about 5,900 barrels of oil equivalent per day. The acquisition is expected to close on July 24. (Reporting by Euan Rocha, editing by Dave Zimmerman)
