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Gear Energy Ltd (GXE.TO)

GXE.TO on Toronto Stock Exchange

0.75CAD
21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

Gear Energy announces qtrly net income per weighted average diluted share $0.01
Wednesday, 10 May 2017 04:09pm EDT 

May 10 (Reuters) - Gear Energy Ltd :Gear Energy Ltd. announces first quarter 2017 operating results.Gear Energy Ltd qtrly net income per weighted average diluted share $0.01.Gear Energy Ltd qtrly total production 5,907 boe/d versus 4,435 boe/d.  Full Article

Gear Energy Ltd. reports Q2 shr loss $0.08
Wednesday, 3 Aug 2016 05:50pm EDT 

Gear Energy Ltd says - : Gear Energy Ltd. announces Q2 2016 operating results . Qtrly loss per share $0.08 . Sees FY16 annual production of 5,250 boepd .Qtrly total production 4,536 boe/d versus 5,632 boe/d.  Full Article

Gear Energy to issue 25 mln common shares at $0.70 per/shr
Wednesday, 8 Jun 2016 09:41am EDT 

Gear Energy Ltd : Will now issue 25.0 million common shares at a price of $0.70 per common share for gross proceeds of $17.5 million . Net proceeds from offering will initially be used to repay outstanding bank indebtedness .Gear energy ltd. Announces increase to bought deal equity financing.  Full Article

Gear Energy says strategic combination With Striker Exploration Corp
Tuesday, 7 Jun 2016 04:15pm EDT 

Gear Energy Ltd : Board of Gear has approved an increase in capital budget to $12.5 million for 2016 conditional upon completion of arrangement . Striker shareholders will receive, for each striker share held, 2.325 gear common shares . Gear's management team, led by Ingram Gillmore, president and chief executive officer, will manage combined company . Aggregate transaction value is approximately $63.7 million based on bought deal financing price for gear shares . Gear received term sheet for pro forma $50 million senior secured revolving credit facilities to be provided on closing . Aggregate transaction value includes assumption of net debt of Striker of $10 million . Sees 2016 production at 5,250 boe/d . Combination of gear and striker provides combined company with an additional 2,000 boe/d of 60% light and medium oil production .Gear Energy Ltd. announces strategic combination with Striker Exploration Corp., a $15 million bought deal financing, and pro forma $50 million senior secured revolving credit facilities.  Full Article

Gear Energy Q1 loss per share $0.02
Wednesday, 11 May 2016 05:14pm EDT 

Gear Energy Ltd : Qtrly loss per share $0.02 . Gear energy ltd qtrly production 4,435 boe/d versus 6,624 boe/d . Says current production guidance for 2016 is an annual average of 4,000 boe per day .Gear energy ltd. Announces first quarter 2016 operating results.  Full Article

Gear Energy Ltd. Announces Closing of $25.8 Million Financing
Monday, 30 Nov 2015 09:20am EST 

Gear Energy Ltd:Says closing of its previously announced $25.8 million financing. Pursuant to the financing, Gear has issued and sold through a syndicate of underwriters co-led by GMP Securities L.P. and Peters & Co. Limited.12 mln common shares of the Company at a price of $0.75 per Common Share for gross proceeds of $9.0 million issued pursuant to a short-form prospectus dated November 23, 2015.2,666,700 Common Shares at a price of $0.75 per Common Share for gross proceeds of approximately $2.0 million issued on a private placement basis.$14.8 million principal amount of 4.00% convertible unsecured subordinated debentures issued on a private placement basis.net proceeds from the financing will initially be used to reduce bank indebtedness, which may be redrawn to fund Gear's 2016 capital expenditure program and for general corporate purposes.  Full Article