CEQUENCE ENERGY LTD. ANNOUNCES CLOSING OF $45.5 MILLION EQUITY FINANCING
CALGARY, March 17 /CNW/ --
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, March 17 /CNW/ - Cequence Energy Ltd. ('Cequence') (TSX: CQE)
is pleased to announce that it has closed its previously announced
'bought deal' short form prospectus offering of 13,397,500 common
shares in the capital of Cequence (including 1,747,500 common shares
issued pursuant to the exercise of an over-allotment option previously
granted to the syndicate of underwriters) at a price of $2.85 per
common share and 2,100,000 common shares in the capital of Cequence
issued on a 'flow-through' basis within the meaning of the Income Tax Act (Canada) at a price of $3.50 per flow-through share for total gross
proceeds of approximately $45.5 million. The offering was conducted
through a syndicate of underwriters led by Peters & Co. Limited and
included FirstEnergy Capital Corp., Cormark Securities Inc., National
Bank Financial Inc., Stifel Nicolaus Canada Inc. and CIBC World Markets
Inc.
Cequence is a publicly traded Canadian energy company involved in the
acquisition, exploitation, exploration, development and production of
natural gas and crude oil in western Canada. Further information about
Cequence may be found in its continuous disclosure documents filed with
Canadian securities regulators at www.sedar.com.
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy securities in the United States, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The Common shares have not
been, and will not be, registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from such registration
requirements.
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Paul Wanklyn, President and Chief Executive Officer, (403) 218-8850, pwanklyn@cequence-energy.com; or David Gillis, Vice President, Finance and Chief Financial Officer, (403) 806-4041, dgillis@cequence-energy.com.
