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Pine Cliff Energy Ltd Closes Private Placement For $5.35 Million-Canada Stockwatch News


Sunday, 2 Dec 2012 09:17pm EST 

Canada Stockwatch News reported that Pine Cliff Energy Ltd has closed the brokered private placement previously announced. The closing of the private placement occurred on November 30, 2012, and consisted of eight million common shares at a price of 70 cents per share for net proceeds, after payment of commissions and deduction of estimated offering costs, of approximately $5,354,000. Macquarie Private Wealth Inc. acted as agent in connection with the offering. The shares issued in connection with the private placement are subject to a statutory hold period of four months plus one day from the date of completion of the private placement, in accordance with applicable securities legislation. The Company intends to use the proceeds from the private placement to repay its credit facility. 

Company Quote

1.44
0.06 +4.35%
9 Jul 2014