Opérations et transactions|29 octobre 2013
NuVista Energy Ltd. closes flow-through share financings
Torys acted as counsel to the underwriters led by Peters & Co. with a team that included Scott Cochlan, Mike Pedlow, Yvan Moquin and Meredith St. John.
October 29, 2013, NuVista Energy Ltd. (NuVista) announced that it closed its previously announced private placement and public offering of an aggregate of 5,129,000 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada), for gross proceeds of approximately C$39.7 million.
The public offering of shares was issued through a syndicate of underwriters led by Peters & Co. Limited, and including RBC Capital Markets Corp., CIBC World Markets Inc., FirstEnergy Capital Corp., Scotia Capital Inc., BMO Capital Markets and TD Securities Inc. Pursuant to the October 4, 2013 agreement, the underwriters purchased for resale to the public, on a bought deal basis, 3.2 million common shares issued on a "flow-through" basis in respect of Canadian exploration expense (CEE FT shares) at a price of C$8.00 per CEE FT share for aggregate gross proceeds of approximately C$25.6 million.
The gross proceeds of the public offering and the concurrent private placement for additional aggregate gross proceeds of approximately C$14.1 million to certain directors, officers and employees of NuVista, will be used by the company to incur eligible Canadian exploration expenses and eligible Canadian development expenses.
Further information can be found on Marketwatch's website.
The public offering of shares was issued through a syndicate of underwriters led by Peters & Co. Limited, and including RBC Capital Markets Corp., CIBC World Markets Inc., FirstEnergy Capital Corp., Scotia Capital Inc., BMO Capital Markets and TD Securities Inc. Pursuant to the October 4, 2013 agreement, the underwriters purchased for resale to the public, on a bought deal basis, 3.2 million common shares issued on a "flow-through" basis in respect of Canadian exploration expense (CEE FT shares) at a price of C$8.00 per CEE FT share for aggregate gross proceeds of approximately C$25.6 million.
The gross proceeds of the public offering and the concurrent private placement for additional aggregate gross proceeds of approximately C$14.1 million to certain directors, officers and employees of NuVista, will be used by the company to incur eligible Canadian exploration expenses and eligible Canadian development expenses.
Further information can be found on Marketwatch's website.