Business
Bowood Energy Inc. announces closing of private placement and increase to credit facility
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About this update from Permex Petroleum 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 LAW./\n\n\nCALGARY, Aug. 2, 2012 /CNW/ - Bowood Energy Inc. (\"Bowood\" or the \"Company\") is pleased to announce that it has closed its previously announced\n private placement of units (the \"Financing\").   Pursuant to the Financing, Bowood issued a total of 120,000,000\n units at a price of $0.05 per unit for gross proceeds of $6,000,000.  \n Each unit was comprised of one common share of Bowood and one warrant\n exercisable to purchase one common share at an exercise price of $0.065\n for a period of 36 months.   Securities issued pursuant to the\n Financing will be subject to a four month hold period.\n\n\nThe Financing was co-led by a syndicate of agents consisting of GMP\n Securities L.P., Macquarie Capital Markets Canada Ltd. and FirstEnergy\n Capital Corp.   Directors and officers of Bowood purchased a total of\n 31,500,000 units under the Financing.\n\n\nIn conjunction with the closing of the private placement, Bowood's\n credit facility with the Canadian Western Bank has been increased from\n $5.7 million to $7.0 million. The net proceeds (approximately $5.7\n million, after agent's fees and expenses) of the Financing will be used\n to reduce outstanding indebtedness under Bowood's credit facility,\n which may be subsequently redrawn to fund capital expenditures and for\n general corporate purposes.\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this news\n release.  \n\nSOURCE: Bowood Energy Inc.\n\n\n Trent J. Yanko, P.Eng. President + CEO Matt Janisch Vice President, Finance + CFO 4400, 525 - 8th Avenue S.W. Calgary, AB T2P 1G1 Telephone: 403.441.2300 \n","length":2306,"tagName":"div"}]