Valeura closes bought deal financing

On February 8, 2018, Valeura Energy Inc. ("Valeura") announced that it entered into an agreement with a syndicate of underwriters, led by GMP FirstEnergy and including Cormark Securities Inc., to purchase, on a "bought deal" basis, 8,772,000 common shares of Valeura at a price of C$5.70 per share for gross proceeds of approximately C$50 million. Later the same day, Valeura agreed to increase the size of the financing and issue 10,527,000 common shares under the previously announced terms, for aggregate gross proceeds of C$60,003,900.

Valeura announced the closing of the financing on March 1, 2018.

The company intends to use the net proceeds of the offering to fund the continued appraisal of its basin-centered gas play in Turkey and for general corporate purposes.

Valeura is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey.

Further information can be found on Canada Newswire's website.