Business
New Zealand Energy Announces $35.1 Million Bought Deal Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES....
About this update from New Zealand Energy Corp.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./ \n\n\nTSX-V: NZOTCQX: NZERF\n\n\nVANCOUVER, March 1, 2012 /CNW/ - New Zealand Energy Corp. (TSX-V: NZ,\n OTCQX: NZERF) (\"NZEC\" or the \"Company\") is pleased to announce that it\n has entered into an agreement with Canaccord Genuity Corp. on behalf of\n a syndicate of Underwriters (the \"Underwriters\") to purchase, on a\n bought deal basis for resale to the public, 11,700,000 common shares of\n NZEC at a price of $3.00 per common share for gross proceeds of\n $35,100,000 (the \"Offering\").\n\n\nNZEC has also granted the Underwriters an option to purchase, on the\n same terms, up to an additional 1,755,000 common shares at $3.00 per\n common share for additional gross proceeds of $5,265,000 (the\n \"Over-Allotment Option\"). The Over-Allotment Option shall be issued on\n the same terms and conditions as the Offering and is exercisable in\n whole or in part by the Underwriters at any time up to 30 days after\n closing.\n\n\nThe net proceeds of the Offering and Over-Allotment Option will be used\n to explore and develop NZEC's oil and gas properties, for additional\n geologic and technical studies, and for other general corporate\n purposes.\n\n\nThe common shares will be offered in all provinces of Canada, excluding\n Québec, by way of a short form prospectus and on a private placement\n basis elsewhere. The closing of the Offering is expected to occur on or\n about March 21, 2012, and is subject to certain conditions, including,\n but not limited to, the receipt of all necessary regulatory approvals,\n including the approval of the TSX Venture Exchange.\n\n\nThe securities offered have not been and will not be registered under\n the United States Securities Act of 1933, as amended, and may not be\n offered or sold in the United States absent registration or applicable\n exemption from the registration requirements. This news release does\n not constitute an offer to sell or the solicitation of any offer to buy\n nor will there be any sale of these securities in any province, state\n or jurisdiction in which such offer, solicitation or sale would be\n unlawful prior to registration or qualification under the securit...