Finance & Investing | Fundraising | Capital Markets | Private Equity Activity
Petrus Wraps Up $30 Million Financing Transaction
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Petrus Resources Ltd. reported that the previously announced plan of arrangement involving Petrus, Petrus Resources Corp., Petrus Resources Inc. and Fox River Resources Corporation has closed, and aggregate gross proceeds from the previously announced $30 million bought deal financing of subscription receipts of Petrus have been released from escrow, resulting in aggregate gross proceeds to Petrus of approximately $75.4 million, inclusive of the gross proceeds of the Financing and the assumption of approximately $45.4 million of PhosCan’s positive working capital.
Pursuant to the Arrangement, Petrus: acquired all of the issued and outstanding common shares of Old Petrus on the basis of 0.25 of a common share of Petrus for each Old Petrus Share, reflecting a notional 4 to 1 consolidation…- ✓ Full news archive — U.S., Canada & international coverage
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