Valeura Energy (VLE-V) Oct 14, '16 is pleased to announce that, in connection with its previously announced private placement financing, Valeura and the syndicate of underwriters led by Cormark Securities Inc. and including GMP FirstEnergy have agreed to increase the size of the private placement financing (the "Offering"). Valeura will now issue 14,629,000 subscription receipts of the Corporation (the "Subscription Receipts") at a price of $0.75 per Subscription Receipt for total gross proceeds of approximately $11 million.
The Subscription Receipts (and the underlying common shares of the Corporation issuable pursuant thereto) will be subject to a four month hold period, under applicable securities laws in Canada. The Offering is expected to close on or about November 3, 2016. Completion of the Offering is subject to certain conditions, including, without limitation, the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
ABOUT THE CORPORATION
Valeura Energy Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey.
Valeura Energy Inc.
Jim McFarland
President and CEO
(403) 930-1150
jmcfarland@valeuraenergy.com
Valeura Energy Inc.
Steve Bjornson
CFO
(403) 930-1151
sbjornson@valeuraenergy.com
www.valeuraenergy.com |
