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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData

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Adira Energy Ltd Announces Filing of Final Prospectus

Wednesday, 25 Jul 2012 07:19pm EDT 

Adira Energy Ltd announced that it has filed a final short form prospectus containing the details of its previously announced fully marketed prospectus offering (Offering). The Company has entered into an agency agreement with a syndicate of agents co-led by GMP Securities L.P., Cormark Securities Inc. and Dundee Securities Ltd. (collectively, the Co-Lead Agents), and including Clarus Securities Inc., and FirstEnergy Capital Corp. (together with the Co-Lead Agents, the Agents) pursuant to which the Agents have agreed to act as exclusive agents to the Company to arrange for the sale on a best efforts basis of a minimum of 71,428,571 units and up to a maximum of 107,142,857 units of the Company at a price of $0.14 per Unit, for aggregate gross proceeds of a minimum of $10,000,000 and a maximum of up to $15,000,000. PowerOne Capital Markets Limited is acting as a member of the selling group in connection with the Offering. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. The Company intends to use the net proceeds of the Offering to advance the Company's exploration and development activities on its Gabriella, Yitzhak and Samuel Offshore Licenses, actively continue with the Company's 2012 exploration and development program and for general corporate purposes. Closing of the Offering is expected to take place on or about August 9, 2012. 

Company Quote

-0.0050 -25.00%
17 Apr 2014