Business
Petrolifera Petroleum announces closing of over-allotment option
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Sept. 4 /CNW/ - Petrolifera Petroleum Limited ("Petrolifera" or\nthe "Corporation") announced today that it has closed its previously announced\nover-allotment option (the "Over-Allotment Option") pursuant to the\nCorporation's equity offering of units ("Units") announced on August 12, 2009\n(the "Offering"). The exercise of the Over-Allotment Option resulted in the\nissuance of 8,523,000 Units at a price of $0.88 per Unit for gross proceeds of\n$7,500,240. Each Unit consists of one common share in the capital of the\nCorporation (each, a "Common Share") and one-half of one Common Share purchase\nwarrant of the Corporation (each whole Common Share purchase warrant, a\n"Warrant"). Each Warrant entitles the holder thereof to purchase one Common\nShare (each a "Warrant Share") at an exercise price of $1.20 per Warrant Share\nat any time up to 5:00 pm (Calgary time) on August 28, 2011. In the event that\nthe 20-day volume weighted average price of the Common Shares on the Toronto\nStock Exchange (or such other stock exchange or quotation system on which the\nCommon Shares are listed and where a majority of the trading volume occurs),\nexceeds $2.50 per Common Share, the Corporation may, within five business days\nafter such an event, provide notice to the holders of Warrants\n("Warrantholders") of early expiry and thereafter the Warrants will expire on\nthe date which is 30 days after the date of the notice to the Warrantholders.\nAs a result of the exercise of the Over-Allotment Option, the aggregate gross\nproceeds to Petrolifera of the Offering was approximately $57.5 million. Upon\nclosing of the Over-Allotment Option, the Corporation has 120,621,010 Common\nShares and 32,671,500 Warrants issued and outstanding on a basic basis and\n156,631,677 Common Shares issued and outstanding on a fully diluted basis.\n\n\nThe Offering was conducted through a syndicate of underwriters with\nThomas Weisel Partners Canada Inc., Cormark Securities Inc. and RBC Capital\nMarkets as co-lead underwriters and including GMP Securities L.P., Tristone\nCapital Inc., Scotia Capital Inc., Jennings Capital Inc., Octagon Capital\nCorp. and D&...