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Saturn Oil & Gas Inc. Announces Closing of Bought Deal Offering and Concurrent Non-Brokered Private Placement
Saturn Oil & Gas Inc. Announces Closing of Bought Deal Offering and Concurrent Non-Br...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"\n \n \n \n Saturn Oil & Gas Inc. Announces Closing of Bought Deal Offering and Concurrent Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n Saturn Oil & Gas Inc. Announces Closing of Bought Deal Offering and Concurrent Non-Brokered Private Placement\n \n \n Canada NewsWire\n \n \n \n \n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n March 10, 2022\n \n /CNW/ - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMKA) (\"Saturn\" or the \"Company\") is pleased to announce that further to the Company's\n \n February 17\n \n ,\n \n February 18\n \n and\n \n February 28, 2022\n \n press releases, it has closed its previously announced Bought Deal Offering and concurrent Non-Brokered Private Placement offerings (the \"Offerings\").  Pursuant to the Bought Deal Offering, the Company issued 6,141,000 units (\"Units\") for\n \n $3.00\n \n per Unit (including full exercise of the Underwriters' over-allotment option) for gross proceeds of\n \n $18,423,000\n \n .  Under the Company's concurrent Non-Brokered Private Placement the Company issued 730,000 Units for gross proceeds of\n \n $2,190,000\n \n .  Total gross proceeds raised under the Offerings was\n \n $20,613,000\n \n .\n \n \n \n \n \n \n \n \n \n The Units issued pursuant to the Offerings were issued for\n \n $3.00\n \n per Unit and consisted of one common share (a \"Share\") of the Company and one common share purchase warrant (\"Warrant\") of the Company.  Each Warrant will be exercisable to acquire one Share for 36 months following the Closing Date, at an exercise price of\n \n $4.00\n \n .\n \n \n The Company will direct the proceeds of the Offerings towards its recently closed Strategic Acquisition as well as drilling and completions work, working capital, and general corporate purposes.\n \n \n \n Bought Deal Offering\n \n \n \n The Bought D...