Business
Result Announces Increase To Bought Deal Financing
Result Announces Increase To Bought Deal Financing
About this update from Route 109 Resources Inc.
[{"type":"text","content":"\n\n\n\nDec. 22, 2009 (Canada NewsWire Group) -- CALGARY, Dec. 22 /CNW/ -- Result Energy Inc. (\"Result\" or the \"Company\") (TSXV:RTE) is pleased to announce that it has agreed to increase the size of the offering of special warrants (\"Special Warrants\") announced on December 10, 2009 (the \"Financing\"). Under the amended terms of the agreement with 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., the Company has agreed to issue an aggregate of 515,518,198 Special Warrants at a price of $0.28 per Special Warrant for gross proceeds of $144,345,095. The additional proceeds from the Financing will be used to fund the Company's Cardium development drilling program. Closing of the Financing is subject to customary conditions and regulatory approvals, including the approval of the TSXV. Closing is expected to occur on or about December 29, 2009.FORWARD-LOOKING STATEMENTSThis press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated dates for the closing of the disclosed financing.The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Result, including with respect to the anticipated closing date of the financing, expectations and assumptions concerning timing of receipt of required regulatory approvals and the satisfaction of other conditions to the completion of the financing.Although Result believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Result can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditi...