Debt | Capital Markets
Storm Resources Initiates $18MM Financing
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Storm Resources Ltd. has entered into an agreement with a syndicate of underwriters led by FirstEnergy Capital Corp. and including National Bank Financial Inc., Peters & Co. Ltd., Macquarie Capital Markets Canada Ltd., and RBC Capital Markets to issue, on a bought deal basis, 9,580,000 common shares of Storm, at a price of $1.88 per Common Share, for aggregate gross proceeds of $18,010,400.
In addition, contemporaneous with the completion of the Bought Deal Financing, Storm announces that it shall issue up to 2,700,000 Common Shares to certain investors identified by Storm, including directors, officers, and employees of Storm, at a price of $1.88 per Common Share, for aggregate proceeds of up to $5,076,000. Aggregate gross proceeds from the Offering are up to $23,086,400 with up to…
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