Business
Advantage Oil & Gas Ltd. Announces Closing of $74.7 Million Secondary Offering of Longview Common Shares
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ CA...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE U.S./\n\n\nCALGARY, May 22, 2012 /CNW/ - Advantage Oil & Gas Ltd. (TSX: AAV) (\"Advantage\") and Longview Oil Corp. (TSX: LNV) (\"Longview\") announce that Advantage has closed the sale of 8.3 million common\n shares of Longview owned by Advantage to a syndicate of underwriters\n led by RBC Capital Markets and FirstEnergy Capital Corp. and including\n Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial\n Inc., CIBC World Markets Inc. and Macquarie Capital Markets Canada\n Ltd., at a price of $9.00 per share for gross proceeds of CDN $74.7\n million. The net proceeds from the offering received by Advantage will\n initially be used to reduce Advantage's existing bank indebtedness and\n will subsequently be utilized to finance additional delineation\n drilling and development of Advantage's liquids rich Middle Montney\n formation at Glacier, Alberta.\n\n\nAdvantage now owns approximately 21.15 million common shares of\n Longview, representing an interest of approximately 45.2% in Longview.\n\n\nPurchasers under the offering are eligible to receive the cash dividend\n declared by Longview on May 15, 2012 in the amount of $0.05 per share,\n which is payable on June 15, 2012 to shareholders of record on May 31,\n 2012.\n\n\nThis press release does not constitute an offer to sell or a\n solicitation of an offer to buy any securities of Longview in any\n jurisdiction in which such offer, solicitation or sale would be\n unlawful. These securities have not been and will not be registered\n under the U.S. Securities Act or any U.S. state securities laws and may\n not be offered or sold in the United States except in compliance with\n the registration requirements of the U.S. Securities Act and applicable\n U.S. state securities laws or pursuant to an exemption therefrom.\n\n\nAdvisory \n\n\nThe information in this press release contains certain forward-looking\n statements. These statements relate to future events or our future\n performance. More particularly, this press release contains statements\n concerning the anticipated use of the net proceeds of the offering and\n the payment of the dividend to purchasers under the offering. All\n statements other than statements of historical fact may be\n forward-looking statements. Fo...