Business
Underwriters exercise full 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. 2 /CNW/ - Petrolifera Petroleum Limited ("Petrolifera" or\nthe "Corporation") announced today that it has received notice from Thomas\nWeisel Partners Canada Inc., Cormark Securities Inc. and RBC Capital Markets,\non behalf of the underwriters of the Corporation's equity financing announced\nAugust 12, 2009 (the "Offering"), that the underwriters have exercised their\nover-allotment option in full to purchase an additional 8,523,000 units\n("Units") at a price of $0.88 per Unit for gross proceeds of $7,500,240 (the\n"Over-Allotment Option"). Each Unit consists of one common share in the\ncapital of the Corporation (each, a "Common Share") and one-half of one Common\nShare purchase warrant of the Corporation (each whole Common Share purchase\nwarrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase\none Common Share (each a "Warrant Share") at an exercise price of $1.20 per\nWarrant Share at any time up to 5:00 pm (Calgary time) on August 28, 2011. In\nthe event that the 20-day volume weighted average price of the Common Shares\non the Toronto Stock Exchange (or such other stock exchange or quotation\nsystem on which the Common Shares are listed and where a majority of the\ntrading volume occurs), exceeds $2.50, the Corporation may, within five\nbusiness days after 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 will now be approximately $57.5\nmillion. The closing of the Over-Allotment Option is expected to occur on or\nabout September 4, 2009. Upon closing of the Over-Allotment Option, the\nCorporation will have 120,621,010 Common Shares and 32,671,500 Warrants issued\nand outstanding on a basic basis and 156,631,677 Common Shares issued and\noutstanding on a fully diluted basis.\n\n\nConnacher Oil and Gas Limited ("Connacher"), a significant shareholder of\nthe Corporation, did not acquire any addition...