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Manitok Energy Inc Closes Bought Deal Public Offering


Friday, 8 Nov 2013 08:38am EST 

Manitok Energy Inc announced that it has closed its previously announced "bought deal" public offering of common shares issued on a "Canadian Exploration Expense" flow-through basis under the Income Tax Act (Canada) ("CEE Flow-through Shares") and common shares issued on a "Canadian Development Expense" flow-through basis under the Income Tax Act (Canada) ("CDE Flow-through Shares") by way of a short form prospectus. Under the Offering, 5,638,900 CEE Flow-through Shares were issued at a price of $3.60 per CEE Flow-through Share and 1,403,000 CDE Flow-through Shares were issued at a price of $3.35 per CDE Flow-through Share, for aggregate proceeds of $25,000,090. The syndicate of underwriters for the Offering was co-led by National Bank Financial Inc., Dundee Securities Ltd., and Macquarie Capital Markets Canada Ltd., and included Integral Wealth Securities Ltd., RBC Dominion Securities Inc., and TD Securities Inc. Proceeds from the issuance of CEE Flow-through Shares under the Offering will be used by Manitok to incur Canadian Exploration Expenses on Manitok's existing Canadian properties on or prior to December 31, 2014. Proceeds from the issuance of CDE Flow-through Shares under the Offering will be used by Manitok to incur Canadian Development Expenses on Manitok's existing Canadian properties on or prior to December 31, 2013. Manitok will renounce CDE to subscribers of CDE Flow-through Shares effective on or before December 31, 2013. 

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