Strategic O&G Initiates $42MM Equity Financing
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Strategic Oil & Gas Ltd. has entered into agreements to offer a total of 42,050,000 Strategic common shares to raise gross proceeds of $42,002,500. Strategic has entered into a bought deal offering by way of short form prospectus with a syndicate of underwriters co-led by Raymond James Ltd. and Macquarie Capital Markets Ltd.
The Public Offering will consist of the issuance of 10,530,000 common shares of the Company at a price of $0.95 per Common Share and 13,700,000 common shares of the Company issued on a flow-through basis at a price of $1.10 per Flow-Through Share for aggregated gross proceeds of $25,073,500. An additional 17,820,000 Common Shares will be issued on a private placement basis to GMT Capital Corp. at the same price as the Common Share Offering Price of $0.95 per…
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