Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/petrowest-corporation-signs-20-million-bought-deal.shtmlPetrowest Corporation signs $20 million bought deal financing
Petrowest Corporation has entered into an agreement with a syndicate of underwriters led by Beacon Securities Limited
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Petrowest Corporation has entered into an agreement with a syndicate of underwriters led by Beacon Securities Limited (collectively, the "Underwriters"), which have agreed to purchase, on a "bought deal" basis 16,000,000 class A common shares (the "Common Shares") of the Company at a price of $1.25 per Common Share, for aggregate gross proceeds of $20 million.
The Company has also granted the Underwriters an over-allotment option, exercisable by the Underwriters in whole or in part at any time on or up to 30 days after the closing of the offering, to purchase up to an additional 2,400,000 Common Shares. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be $23.0 million.
