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Strategic Oil & Gas Ltd. Announces $20 Million Bought Deal Financing
Sep. 16, 2010 07:09PM PST
Oil and Gas InvestingStrategic Oil & Gas Ltd. (TSX VENTURE:SOG) announced that it has entered into a financing agreement with a syndicate of underwriters, led by Macquarie Capital Markets Canada Ltd., and including CIBC World Markets, Clarus Securities Inc., PI Financial Corp. and Raymond James Ltd., to issue and sell on a “bought-deal” basis, 16,700,000 common shares of Strategic at a price of $0.90 per Common Share and 4,550,000 Common Shares to be issued on a flow-through basis at a price of $1.10 per Flow-Through Common Share, for expected gross proceeds of $20,035,000.
Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) announced that it has entered into a financing agreement with a syndicate of underwriters, led by Macquarie Capital Markets Canada Ltd., and including CIBC World Markets, Clarus Securities Inc., PI Financial Corp. and Raymond James Ltd., to issue and sell on a “bought-deal” basis, 16,700,000 common shares of Strategic at a price of $0.90 per Common Share and 4,550,000 Common Shares to be issued on a flow-through basis at a price of $1.10 per Flow-Through Common Share, for expected gross proceeds of $20,035,000.
The press release is quoted as saying:
Strategic is a junior oil and gas company with producing properties located in Maxhamish, northeast BC and Southern and Central Alberta. Production capability is currently over 300 boe/d (excluding Maxhamish) with additional production expected to be brought onstream during the third quarter of 2010 from the recently announced drilling program at Taber and Conrad.
Click here to access the entire press release