Exploration & Production | Finance & Investing | Capital Markets
Artek Funding 2014 Capex with Latest Offering
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Artek Exploration Ltd. has announced that it has entered into an agreement with a syndicate of underwriters led by Peters & Co. Limited and including Cormark Securities Inc., National Bank Financial Inc., Clarus Securities Inc., GMP Securities L.P., Raymond James Ltd., FirstEnergy Capital Corp. and Dundee Securities Ltd. (collectively, the Underwriters), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis 7,318,000 common shares (Common Shares) at a price of $4.10 per Common Share and 1,590,000 common shares to be issued on a flow-through basis in respect of Canadian exploration expenses (Flow‑Through Shares) at a price of $5.04 per Flow-Through Share, for aggregate gross proceeds to the Corporation of approximately $38 million(collectively, the "Offering").
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