Business
Bankers Petroleum closes first tranche of private placement
CALGARY, Feb. 6 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce that i...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 6 /CNW/ - Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is\npleased to announce that it has completed the first closing of its previously\nannounced CDN$60.0 million private placement, pursuant to which the Company\nissued 55,555,555 shares at a price of $0.90 per share for gross proceeds of\napproximately CDN$50.0 million.\n\n\nBankers expects to close the remainder of the private placement before\nFebruary 15, subject to meeting regulatory requirements and completion of\ndocumentation. Once finalized, the Company will have issued an aggregate of\n66,666,666 shares of the Company, at a price of $0.90 per share for gross\nproceeds of approximately CDN$60.0 million. The securities are subject to a\nfour month hold period. Proceeds from the placement will be used to fund the\nCompany's exploration and development programs in Albania and the United\nStates, the recently announced Albanian acquisition and for general corporate\npurposes.\n\n\nApplication has been made for the shares issued under the private\nplacement to be admitted to trading on the Toronto Stock Exchange and the AIM\nMarket of the London Stock Exchange (effective February 6, 2008).\n\n\nAbout Bankers Petroleum Ltd.\n\n\nBankers Petroleum Ltd. is a Canadian-based oil and gas exploration and\nproduction company focused on opportunities in unconventional petroleum\nassets. Bankers operates and has the full rights to develop the Patos-Marinza\nheavy oilfield in Albania, which is a 2.0 billion barrel resource. It also\nholds interests in four areas in the Northern and Central regions of the\nUnited States, where it is currently pursuing the exploration, development and\nproduction of shale and tight sand gas plays. Bankers shares are traded on the\nToronto Stock Exchange and the AIM Market in London, England under the ticker\nsymbol BNK.\n\n\n","length":1891,"tagName":"div"}]