* To sell 21 mln shares at C$1.90 apiece
* Proceeds to fund Breagh project in UK
July 22 Canadian oil and gas company Sterling
Resources Ltd (SLG.V) said it would raise C$40 million ($38.17
million) in a bought deal financing to fund its Breagh project
in the United Kingdom North Sea.
The company said it would sell 21 million shares at C$1.90
apiece to a syndicate of underwriters led by Wellington West
Capital Markets Inc.
The offering is anticipated to close on or about August 12,
the company said.
Shares of the Calgary, Alberta-based company were down 4
percent, or 9 Canadian cents, at C$1.95 Thursday morning on the
Toronto Venture Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Vyas