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Valeura announces closing of subscription receipt offering
Valeura announces closing of subscription receipt offering Valeura announces closi...
About this update from Valeura Energy Inc.
[{"type":"text","content":"\n\n\n\nValeura announces closing of subscription receipt offering\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\nValeura announces closing of subscription receipt offering\nCanada NewsWire\nCALGARY, Nov. 3, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nCALGARY, Nov. 3, 2016 /CNW/ - Valeura Energy Inc. (\"Valeura\" or the \"Corporation\") (TSX: VLE) is pleased to announce that it has closed its previously announced underwritten private placement financing of 14,629,000 subscription receipts (the \"Subscription Receipts\") at a price of $0.75 per Subscription Receipt for aggregate gross proceeds of approximately $11 million (the \"Offering\"). The Offering was completed by a syndicate of underwriters led by Cormark Securities Inc. (\"Cormark\") and including GMP FirstEnergy (the \"Underwriters\").\n\nEach Subscription Receipt represents the right to receive one common share of the Corporation, without the payment of any additional consideration or further action, upon satisfaction of certain conditions, including that all conditions to the completion of the acquisition of Thrace Basin Natural Gas (Turkiye) Corporation (\"TBNG\") pursuant to the terms of the share purchase agreement (the \"Acquisition Agreement\") dated October 13, 2016 between Valeura Energy Netherlands B.V. and TransAtlantic Worldwide, Ltd. have been satisfied (but for the payment of the purchase price) (the \"TBNG Acquisition\"). \n\nThe gross proceeds of the Offering were deposited into escrow with Computershare Trust Company of Canada (\"Computershare\") pursuant to the terms of a subscription receipt agreement dated November 3, 2016 among Valeura, Cormark, on behalf of the Underwriters, and Computershare. The Corporation will use the net proceeds of the Offering to partially fund the TBNG Acquisition.\n\nIf (i) the TBNG Acquisition is not completed on or before March 3, 2017, (ii) the Acquisition Agreement is terminated in accordance with its terms at an earlier time, or (iii) Valeura advises t...