Business
Petrolifera Petroleum announces closing of bought deal offering
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About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, June 27 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounces that it has closed its previously announced bought deal financing of\n4,445,000 common shares ("Common Shares") at a price of $9.00 per Common Share\nfor gross proceeds of $40,005,000 (the "Offering"). The Offering was\nunderwritten by a syndicate of underwriters led by RBC Capital Markets and\nincluding Macquarie Capital Markets Canada Ltd., GMP Securities L.P., Tristone\nCapital Inc., Cormark Securities Inc., Octagon Capital Corporation, D&D\nSecurities Company and Thomas Weisel Partners Canada Inc. (collectively, the\n"Underwriters"). The net proceeds of the Offering will be used by Petrolifera\nto fund the remaining portion of its 2008 capital spending program in\nArgentina, Colombia and Peru.\n\n\nPetrolifera has granted the Underwriters an option (the "Over-Allotment\nOption") under which the Underwriters may offer for sale up to an additional\n666,750 Common Shares at a price of $9.00 per Common Share on the same terms\nand conditions as the Offering. The Over-Allotment Option is exercisable in\nwhole or in part until July 27, 2008.\n\n\nAfter giving effect to the Common Shares issued under the Offering,\nPetrolifera now has 54,798,010 Common Shares outstanding.\n\n\nPetrolifera Petroleum Limited is a Calgary-based crude and natural gas\nexploration and production company with significant operated interests in ten\nblocks in Argentina, Colombia and Peru in South America. These blocks cover\napproximately seven million acres. Current crude oil and natural gas\nproduction is derived from the Puesto Morales/Rinconada Concession in the\nNeuquen Basin onshore Argentina.\n\n\n","length":1887,"tagName":"div"}]