Spartan Energy Corp. Announces Increase to Bought Deal Financing from $100 Million to $130 Million
28 May 2014 - 2:11AM
Marketwired
Spartan Energy Corp. Announces Increase to Bought Deal Financing
from $100 Million to $130 Million
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Spartan Energy
Corp. ("Spartan" or the "Company") (TSX-VENTURE:SPE) is pleased to
announce that it has increased its previously announced bought deal
financing with a syndicate of underwriters co-led by Peters &
Co. Limited, Clarus Securities Inc. and GMP Securities L.P., and
including TD Securities Inc., Dundee Securities Ltd., Desjardins
Securities Inc., FirstEnergy Capital Corp., AltaCorp Capital Inc.,
Macquarie Capital Markets Canada Ltd., National Bank Financial
Inc., Paradigm Capital Inc. and Scotia Capital Inc. (collectively,
the Underwriters"), whereby the Company will now issue 34,670,000
Shares at a price of $3.75 per Share for aggregate gross proceeds
of $130,012,500 (the "Financing"). The Underwriters will have an
option to purchase up to an additional 5,200,500 Shares, on the
same terms, exercisable in whole or in part at any time up to the
30th day following closing of the Financing. In all other respects
the terms of the Financing and the use of proceeds will remain as
previously disclosed.
The Financing is scheduled to close on or about June 17, 2014,
and is subject to certain conditions including, but not limited to,
the receipt of all necessary approvals, including the approval of
the TSX Venture Exchange.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
READER ADVISORY
Forward-Looking Statements. Certain information included in
this press release constitutes forward-looking information under
applicable securities legislation. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements typically contains statements with words
such as "anticipate", "believe", "expect", "plan", "intend",
"estimate", "propose", "project" or similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking
statements in this press release may include, but is not limited
to, timing for completion of the Financing. These statements
involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control, including: the
impact of general economic conditions; industry conditions; changes
in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and
enforced; fluctuations in commodity prices and foreign exchange and
interest rates; stock market volatility and market valuations;
volatility in market prices for oil and natural gas; liabilities
inherent in oil and natural gas operations; uncertainties
associated with estimating oil and natural gas reserves;
competition for, among other things, capital, acquisitions, of
reserves, undeveloped lands and skilled personnel; incorrect
assessments of the value of acquisitions; changes in income tax
laws or changes in tax laws and incentive programs relating to the
oil and gas industry; geological, technical, drilling and
processing problems and other difficulties in producing petroleum
reserves; and obtaining required approvals of regulatory
authorities. Forward-looking information is based on a number of
factors and assumptions which have been used to develop such
information but which may prove to be incorrect. Although Spartan
believes that the expectations reflected in its forward-looking
information are reasonable, undue reliance should not be placed on
forward-looking information because Spartan can give no assurance
that such expectations will prove to be correct. In addition to
other factors and assumptions which may be identified in this press
release, assumptions have been made regarding and are implicit in,
among other things, the timely receipt of any required regulatory
approvals and the satisfaction of all conditions to the completion
of the Financing. Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which have been
used.
Forward-looking information is based on current
expectations, estimates and projections that involve a number of
risks and uncertainties which could cause actual results to differ
materially from those anticipated by Spartan and described in the
forward-looking information. The forward-looking information
contained in this press release is made as of the date hereof and
Spartan undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, unless required by
applicable securities laws. The forward looking information
contained in this press release is expressly qualified by this
cautionary statement.
Spartan Energy Corp.Richard (Rick) McHardyPresident and Chief
Executive OfficerSpartan Energy Corp.Michelle WigginsVice-President
Finance and Chief Financial OfficerSpartan Energy Corp.Suite 500,
850 - 2nd Street S.W.Calgary, Alberta T2P
0R8403.355.2779info@spartanenergy.ca
Spartan Energy Corp (TSXV:SPE)
Historical Stock Chart
From May 2024 to Jun 2024
Spartan Energy Corp (TSXV:SPE)
Historical Stock Chart
From Jun 2023 to Jun 2024