Exploration & Production | Finance & Investing | Capital Markets
Terrace Energy Funds 2014 Exploration with Equity Before Year-End
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Terrace Energy Corp. has announced that the Company and Canaccord Genuity Corp., as lead agent on behalf of a syndicate of agents including Cormark Securities Inc., Primary Capital Inc. and Salman Partners Inc., have agreed to price the previously announced public offering of common shares at $2.15 per common share to raise gross proceeds of a minimum of $10 million.
The Offering is expected to close in early January 2014 and is subject to certain conditions, including, but not limited to receipt of all necessary approvals, including approval of the TSX Venture Exchange.
The Company plans to use the net proceeds from the Offering to fund the Company's 2014 exploration and development programs and for general working capital purposes.
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