Business
Bengal Energy Announces Closing of $9.0 million Bought Deal Financing including Over-Allotment Option
Jan. 28, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"\n\n\n\n Jan. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES /\n\n\nCALGARY, Jan. 28 /CNW/ - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") is pleased to announce that it has closed\n its previously announced short form prospectus bought deal financing\n (the "Offering") with a syndicate of underwriters led by Mackie\n Research Capital Corporation and including Wellington West Capital\n Markets Inc. and Toll Cross Securities Inc. (the "Underwriters"). \n Pursuant to the Offering, Bengal issued 7,525,000 common shares of the\n Corporation ("Common Shares") at an issue price of $1.20 per Common\n Share for aggregate gross proceeds of $9,030,000, including 874,950\n Common Shares issued pursuant to the exercise in full by the\n Underwriters of an over-allotment option.\n\n\nThe net proceeds from the Offering will be used to fund the Company's\n ongoing capital expenditure programs in India and Australia and for\n general working capital purposes.\n\n\nAbout Bengal \n\n\nBengal Energy Ltd. is an international junior oil and gas exploration\n and production company with assets in Canada, India and Australia. The\n Company is committed to growing shareholder value through international\n exploration, production and acquisitions. Bengal trades on the TSX\n under the symbol BNG. Additional information is available at www.beng...