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Surge Finances Recent Saskatchewan Acquisition
Surge Energy Inc. has announced that it has closed the previously announced financing detailed in the Company's press release dated January 13, 2014.
The financing was completed in connection with the previously announced acquisition by the Company of certain assets in SE Saskatchewan.
The Company issued 11,112,000 subscription receipts of the Company at a price of $6.30 per subscription receipt, for gross proceeds of $70,005,600 as part of a "bought deal" financing with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd., and including GMP Securities LP, National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., Dundee Securities Ltd., FirstEnergy Capital Corp., Cormark Securities Inc., TD Securities Inc., and Raymond James Ltd.
The net proceeds from the issuance of Subscription Receipts will be used to partially fund the Acquisition. Closing of the Acquisition is expected to occur on February 14, 2014.
/Book Runner
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