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Paramount Resources Ltd Announces Common Share Offering


Thursday, 9 May 2013 04:27pm EDT 

Paramount Resources Ltd announced that it has entered into an agreement to sell to a syndicate of underwriters led by BMO Capital Markets, on a bought deal basis, 3,500,000 Class A Common Shares to be issued at a price of $37.50 per share for gross proceeds of $131,250,000. In addition, the underwriters will also have an over-allotment option for 15% of the offering exercisable at any time until 30 days following the closing. The shares will be offered for sale by the underwriters in all provinces of Canada (excluding Quebec) by way of a prospectus supplement. Closing of this offering is expected to occur on or about May 22, 2013. The net proceeds of the offering will be used to fund Paramount's 2013 capital expenditure program and for general corporate purposes. The completion of the offering is subject to Paramount receiving all necessary regulatory approvals. 

Company Quote

64.47
1.31 +2.07%
19 Sep 2014