Business
Tourmaline Oil Corp. announces closing of flow-through common share bought deal financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ ...
About this update from Tourmaline Oil 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./\n\n\nCALGARY, Dec. 1, 2011 /CNW/ - Tourmaline Oil Corp. (TSX - TOU) (\"Tourmaline\") is pleased to announce that it has closed its public offering of\n 1,200,000 flow-through common shares (\"Flow-Through Shares\") at a price of $41.00 per Flow-Through Share for gross proceeds of\n $49.2 million.  Concurrent with the closing of the public offering,\n certain directors, officers and employees of the Company and their\n associates, purchased a total of 161,500 Flow-Through Shares at the\n offering price of $41.00 per share on a private placement basis. The\n gross proceeds from the offering and concurrent private placement\n totalled approximately $55.8 million.\n\n\nThe public offering was underwritten by a syndicate of underwriters led\n by Peters & Co. Limited and including FirstEnergy Capital Corp., Scotia\n Capital Inc., CIBC World Markets Inc., Cormark Securities Inc.,\n National Bank Financial Inc., Stifel Nicolaus Canada Inc., and TD\n Securities Inc.\n\n\nTourmaline will use the net proceeds of the financing to incur eligible\n Canadian Exploration Expenses on the exploration of its properties\n prior to December 31, 2012. These qualifying Canadian Exploration\n Expense expenditures will be renounced to subscribers for the 2011 tax\n year.\n\n\nThe securities offered have not been, and will not be, registered under\n the U.S. Securities Act of 1933, as amended, (the \"U.S. Securities Act\") or any U.S. state securities laws and may not be offered or sold in\n the United States absent registration or an available exemption from\n the registration requirement of the U.S. Securities Act and applicable\n U.S. state securities laws.  This press release shall not constitute an\n offer to sell or the solicitation of an offer to buy, nor shall there\n be any sale of these securities, in any jurisdiction in which such\n offer, solicitation or sale would be unlawful.\n\n\nAbout Tourmaline Oil Corp.\n\n\nTourmaline is a Canadian intermediate crude oil and natural gas\n exploration and production company focused on long-term growth through\n an aggressive exploration, development, production and acquisition\n program in the Western Canadian Sedimentary Basin.\n\n\nForward-Looking Information\n\n\nThis news release c...