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Result Announces Closing Of A $144 Million Bought Deal Financing, Closing Of Strategic Acquisitions And Reiterates 2010 Guidance
Result Announces Closing Of A $144 Million Bought Deal Financing, Closing Of Strategic Acquisitio...
About this update from Route 109 Resources Inc.
[{"type":"text","content":"\n\n\n\nDec. 29, 2009 (Canada NewsWire Group) -- CALGARY, Dec. 29 /CNW/ -- Result Energy Inc. (\"Result\" or the \"Company\") (TSXV:RTE) is pleased to announce that it has completed it previously announced bought deal special warrant (the \"Special Warrants\") financing (the \"Financing\"). Result, through a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including National Bank Financial Inc., FirstEnergy Capital Corp., GMP Securities L.P., BMO Capital Markets, CIBC World Markets Inc., Cormark Securities Inc., Genuity Capital Markets, TD Securities Inc., Research Capital Inc. and Thomas Weisel Partners Canada Inc. issued a total of 515,518,198 Special Warrants at a price of $0.28 per Special Warrant for gross proceeds of $144,345,095.Each Special Warrant entitles the holder thereof to receive one Result Share on the exercise or deemed exercise of the Special Warrant. The Special Warrants will be exercisable for no additional consideration and all unexercised Special Warrants will be deemed to be exercised on the earlier of (a) four months and a day following the closing of the Financing, and (b) the fifth business day following the issuance of a receipt by the securities regulatory authorities in all of the applicable provinces for a final prospectus qualifying the Result Shares to be issued upon the exercise of the Special Warrants. Result shall use its best commercial efforts to obtain such a receipt for a final prospectus on or before February 10, 2010. Until the receipt is issued for such prospectus, the Special Warrants as well as the Result Shares issuable upon exercise thereof will be subject to a four month hold period under applicable Canadian securities laws.Additionally, Result is pleased to announce it has successfully closed the previously announced asset acquisitions (the \"Asset Acquisitions\") and a private company acquisition (the \"Private Company Acquisition\") for total consideration of approximately $50.4 million of cash and 47.5 million Result shares at a deemed price of $0.28 per Result share.Result is also please to provide an update regarding the previously announced arrangement agreement with Nexstar Energy Ltd. (\"Nexstar\") pursuant to which Result will acquire all of the outstanding class A shares of Nexstar (the \"Nexstar Arrangement\"). It is anticipated that a meeting o...