Business
Tourmaline Oil Corp. Announces Increase To Flow-through Common Share Bought Deal Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. AN...
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. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\nCALGARY, Nov. 10, 2011 /CNW/ - Tourmaline Oil Corp. (TSX - TOU)\n (\"Tourmaline\") is pleased to announce that, in connection with its\n previously announced flow-through common share bought deal financing,\n Tourmaline and the syndicate of underwriters led by Peters & Co.\n Limited and including FirstEnergy Capital Corp., Scotia Capital Inc.,\n CIBC World Markets Inc., Cormark Securities Inc., National Bank\n Financial Inc., Stifel Nicolaus Canada Inc., and TD Securities Inc.\n have agreed to increase the size of the financing. Tourmaline will now\n issue 1,200,000 flow-through common shares (\"Flow-Through Shares\") at a\n price of $41.00 per Flow-Through Share for gross proceeds of $49.2\n million.  In conjunction with the offering, certain officers,\n directors, employees of Tourmaline and their associates intend to\n participate by purchasing a minimum of 100,000 Flow-Through Shares up\n to a maximum of 200,000 additional Flow-Through Shares at a price of\n $41.00 per Flow-Through Share on a private placement basis.\n\n\nThe bought deal offering will be completed by way of short form\n prospectus in all of the provinces of Canada, except Quebec. The\n offerings are subject to customary conditions including receipt of\n applicable regulatory approvals and are expected to close on or about\n December 1, 2011.\n\n\nTourmaline will use the 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\n laws and may not be offered or sold in the United States absent\n registration or an available exemption from the registration\n requirement of the U.S. Securities Act and applicable U.S. state\n securities laws.  This press release shall not constitute an offer to\n sell or the solicitation of an offer to buy, nor shall there be any\n s...