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Kelt Exploration Ltd Closes $111.6 Million Equity Financing Including Full Exercise Of The Over-Allotment Option


Tuesday, 27 Aug 2013 08:47am EDT 

Kelt Exploration Ltd announced that it has completed a bought deal private placement offering (the Offering) with a syndicate of underwriters led by Peters & Co. Limited and including FirstEnergy Capital Corp., CIBC World Markets Inc., DundeeSecurities Ltd., RBC Dominion Securities Inc., GMP Securities L.P., Stifel Nicolaus Canada Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Cormark Securities Inc., Scotia Capital Inc., AltaCorp Capital Inc. and Paradigm Capital Inc. pursuant to which the Company issued 11.5 million common shares of Kelt (Common Shares) (which includes the exercise in full of the over-allotment option to purchase 1.5 million Common Shares) at a price of $8.00 per Common Share and 2.0 million Common Shares issued on a "flow-through" basis ("Flow-Through Shares") at a price of $9.80 per Flow-Through Share, for gross proceeds of $111,600,000. The Common Shares and Flow-Through Shares issued in connection with the Offering are subject to a statutory four (4) month hold period under applicable securities legislation. Kelt intends to use the net proceeds from the Offering to fund its 2013 and 2014 capital expenditures and for general working capital purposes. 

Company Quote

13.43
0.13 +0.98%
4:00pm EDT