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Carmen Energy Inc. Announces Closing of First Tranche of Prospectus Offering and Concurrent Private Placement
CALGARY, Dec. 30, 2011 /CNW/ - Carmen Energy Inc. (" Carmen " or the " Corporation ") is pl...
About this update from Cassiar Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Dec. 30, 2011 /CNW/ - Carmen Energy Inc. (\"Carmen\" or the \"Corporation\") is pleased to announce that it has completed the first tranche of its\n previously announced public offering of: (i) up to 11,111,111 common\n shares issued as \"flow-through shares\" pursuant to the Income Tax Act (Canada) (\"Flow-Through Shares\") at a price of $0.27 per Flow-Through Share and (ii) up to 13,043,478\n units (\"Units\") at a price of $0.23 per Unit (the \"Offering\"). Each Unit will be comprised of one common share of the Corporation\n (a \"Common Share\") and one half of one Common Share purchase warrant (each whole warrant\n a \"Warrant\"). The Offering is being conducted pursuant to the terms of an agency\n agreement (\"Agency Agreement\") dated as of November 22, 2011 between the Corporation and Macquarie\n Private Wealth Inc. (the \"Agent\").\n\n\nThe first tranche closed with the issuance of 1,301,777 Flow-Through\n Shares and 3,308,282 Units for aggregate gross proceeds of $1,112,385. \n Additional closings, if they occur, shall occur at any time agreed upon\n by the Corporation and the Agent provided that such closing(s) occur\n prior to March 12, 2012.\n\n\nIn addition, concurrently with the first tranche closing of the\n Offering, Carmen privately placed 1,604,348 Units (the \"Concurrent Private Placement\") for aggregate gross proceeds of $369,000. The Common Shares and\n Warrants comprising the Units issued pursuant to the Concurrent Private\n Placement will be subject to a statutory four month and one day hold\n period.\n\n\nAbout Carmen Energy Inc.\n\n\nCarmen is based in Calgary, Alberta and a publicly traded oil and gas\n exploration and production company. The focus is on exploration and\n development of Western Canadian Sedimentary Basin based oil and gas\n properties. The current projects are the Jumpbush properties in south\n eastern Alberta, the Ferrybank properties in central Alberta, the\n Sylvan Lake area properties in Southern Alberta, the Viking-Kinsella\n properties in Alberta and the Hamburg properties in northern western\n Alberta.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\nAdvisory Regarding Forward-Looking Information and Statements\n\n\nThis press release contains forward-looking statements and\n forward-looking information within the meaning of applicable securities\n laws. T...