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InPlay Oil Corp. Announces Upsize to Previously Announced Equity Offering
InPlay Oil Corp. Announces Upsize to Previously Announced Equity Offering Canada NewsWi...
About this update from Inplay Oil Corp
[{"type":"text","content":"\n\n\n\n InPlay Oil Corp. Announces Upsize to Previously Announced Equity Offering\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n NOT FOR DISTRIBUTION OR DISSEMINATION IN\n \n THE UNITED STATES\n \n\n\n\n\n\n\n FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAW\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Feb. 20, 2025\n \n\n\n /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (\"\n \n\n InPlay\n \n\n \" or the \"\n \n\n Company\n \n\n \") is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by ATB Securities Inc., National Bank Financial Inc. and RBC Capital Markets (collectively, the \"\n \n\n Lead Underwriters\n \n\n \" and together with the rest of the syndicate of underwriters, the \"\n \n\n Underwriters\n \n\n \") to increase the size of its previously announced bought-deal prospectus offering (the \"\n \n\n Offering\n \n\n \") to\n \n $28.5 million\n \n .\n \n\n\n\n The Underwriters have agreed to purchase for resale to the public, on a bought-deal basis, a total of 18,387,500 subscription receipts (\"\n \n\n Subscription Receipts\n \n\n \") of InPlay at a price of\n \n $1.55\n \n per Subscription Receipt for gross proceeds of approximately\n \n $28.5 million\n \n . In addition, the Underwriters will now have an option to purchase up to an additional 2,758,125 Subscription Receipts under the Offering at a price of\n \n $1.55\n \n per Subscription Receipt to cover over-allotments and for market stabilization purposes.\n \n\n\n\n As previously announced, InPlay has entered into a definitive agreement (the \"\n \n\n Acquisition Agreement\n \n\n \") for the purchase of petroleum and natural gas assets located primarily in the Pembina area of\n \n Alberta\n \n for a total purchase price of approximately\n \n $309 million\n \n , prior to adjustments (the \"\n \n\n Transaction\n \n\n \"). It is anticipated that InPlay will fund the Transaction, with the ...