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BNK PETROLEUM INC. ANNOUNCES $66 MILLION PRIVATE PLACEMENT
BNK PETROLEUM INC. ANNOUNCES $66 MILLION PRIVATE PLACEMENT
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\n Oct. 19, 2010 (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\nTSX ticker symbol; BKX\n\n\nCAMARILLO, CA, Oct. 19 /CNW/ - BNK Petroleum Inc. (the "Company") (TSX:\n BKX) is pleased to announce a non-brokered Cdn.$66 million private\n placement, representing 26,000,000 common shares at a price of\n Cdn.$2.54 per share, to Quantum Partners LP, a private investment fund\n managed by Soros Fund Management LLC.. ("Quantum"). \n\n\nThe financing is subject to, among other things, approval of the Toronto\n Stock Exchange.  The Company will pay fees of approximately 3% of the\n gross proceeds in aggregate to Macquarie Capital Markets Canada Ltd.,\n who acted as the Company's financial advisor on the transaction and GMP\n Securities L.P., TD Securities Inc., Paradigm Capital Inc. and others\n who acted as strategic advisors to the Company.\n\n\nThe shares issued pursuant to the financing will be subject to a four\n month hold period in Canada commencing on the date of the closing. \n Upon completion of the private placement Quantum will hold\n approximately 19.5% of the Company's issued and outstanding shares. \n Closing of the financing is currently scheduled to occur on or about\n October 25 2010, subject to receipt of all necessary approvals.\n\n\nThe Company intends to use the net proceeds of the private placement for\n general corporate purposes, including work commitments on its European\n shale gas concessions. \n\n\nCaution Regardi...