Exploration & Production | Finance & Investing | Capital Markets
Questerre Completes Financing to Fund Further Montney Development
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Questerre Energy Corporation has announced that its previously reported equity issue has been fully subscribed.
The offering will consist of the issuance of 23,494,753 Common Shares of the Company at an issue price of NOK 7.40 or C$1.28 per Common Share for estimated gross proceeds of NOK 174 million or $30 million.
Michael Binnion, President and Chief Executive Officer, said "This financing allows us to accelerate our activity in 2014. We expect to double our Kakwa activity to ensure we are ready for the Pembina plant expansion. The placement also addresses the risks around financing our aggressive development plan for this area."
Payment instruction will be sent to subscribers today. Payment is scheduled to take place on November 29, 2013 and the shares are expected to be tradable on or…
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