Manitok Energy Raises Offering to $17.2 Million

Manitok Energy Inc. (TSXV:MEI) announced that strong investor demand has prompted it to up the size of its bought deal public offering to $17.2 million.

As quoted in the press release:

Under the new terms of the Offering, the Underwriters have agreed to purchase, on a “bought deal” basis, 2,631,579 common shares in the capital of Manitok (“Common Shares”) at a price of $1.90 per share, and 1,430,000 Common Shares to be issued on a “flow-through” basis under the Income Tax Act (Canada) in respect of Canadian development expenses at a price of $2.10 per share and 4,000,000 Common Shares to be issued on a “flow-through” basis under the Income Tax Act(Canada) in respect of Canadian exploration expenses at a price of $2.30 per share (collectively, the “Flow-through Shares”).

Click here to read the full Manitok Energy Inc. (TSXV:MEI) press release.