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LGX Oil + Gas Inc Announces Closing Of Bought Deal Financing


Wednesday, 7 Nov 2012 09:37am EST 

LGX Oil + Gas Inc announced that it has closed its previously announced bought deal financing (Financing). Pursuant to the Financing, LGX issued a total of 49.5 million Subscription Receipts at a price of $0.86 each and 4.81 million common shares issued on a flow-through basis at a price of $1.04 each, for gross proceeds of $47,572,400. The Financing was co-led by FirstEnergy Capital Corp. and Raymond James Ltd. and included a syndicate of underwriters consisting of GMP Securities L.P., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Scotia Capital Inc. and BMO Capital Markets Inc. The net proceeds of the Financing will be used to fund the cash purchase price payable by LGX pursuant to the previously announced acquisition of assets in the Manyberries area of Alberta (the Acquisition) and for general corporate purposes. The gross proceeds from sale of the Subscription Receipts will be held in escrow pending the receipt by the escrow agent and the underwriters of notice from LGX that all conditions precedent to the completion of the Acquisition have been satisfied or waived. 

Company Quote

0.53
0.03 +6.00%
28 Jul 2014