DeeThree Exploration completes C$70 million bought deal offering

Torys acted as counsel to the underwriters co-led by Cormark Securities and Macquarie Capital Markets Canada with a team that included Scott Cochlan, Mike Pedlow and Yvan Moquin.

On May 27, 2014, DeeThree Exploration Ltd. (DeeThree) reported that it completed its previously announced short form prospectus offering, raising gross proceeds of C$73,429,220.

The offering, announced May 5, 2014, was co-led by Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd., on their own behalf and on behalf of Raymond James Ltd., CIBC, Dundee Securities Ltd., TD Securities Inc., National Bank Financial Inc. and Desjardins Securities Inc. A total of 5,714,200 common shares were issued pursuant to the offering at the price of C$11.10 per share (including 304,200 common shares issued in connection with the partial exercise of underwriters' over-allotment option) and 752,000 common shares issued on a flow-through basis at a price of C$13.30 per share.

DeeThree is an energy company focused on crude oil and natural gas exploration in the Western Canada Sedimentary Basin.

Further information can be found on DeeThree's website.