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Provider: Reuters Investment Profile
$20.00
Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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CGX Energy Inc Provides Update On Private Placement Financing


Tuesday, 12 Mar 2013 09:09am EDT 

CGX Energy Inc announced that it is making an application to the Ontario Securities Commission seeking an order to permanently cease trade the Company's shareholder rights plan (the Order). The provisions of the Company's shareholder rights plan were too restrictive to allow the closing of the previously announced private placement of a minimum of CAD35,000,000 and a maximum of CAD40,000,000 of units of CGX (the Units) at a price of CAD0.14per Unit (the Private Placement). Pacific Rubiales Energy Corp. (Pacific Rubiales) has agreed to purchase all of the Units to be issued under the minimum offering that are not subscribed for by other investors. Obtaining the Order or redemption of the shareholder rights plan is now a condition of closing the Private Placement. The Private Placement that was originally scheduled to close on or before March 11, 2013, will now close at such time as an Order is granted, or shareholders grant approval at the special meeting of shareholders. 

Company Quote

0.218
-0.02 -8.40%
26 Dec 2014