Crown Point Energy Inc. will offer to shareholders of record on Sept. 25, 2017, rights to purchase shares of the company. One right will be issued for each share held. One right and three cents are required to purchase one share. The expiry date for the rights offering is Oct. 19, 2017. As at Sept. 18, 2017, the company has 164,515,222 shares issued and outstanding.
As part of the offering, the company has entered into a standby purchase agreement, pursuant to which a maximum of 164,515,222 common shares can be purchased by Liminar Energia SA.
Effective at the opening on Friday, Sept. 22, 2017, the shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as an oil and gas exploration/development company.
Basis of offering: one right exercisable for one share at 2.5 U.S. cents per share
Record date: Sept. 25, 2017
Shares trade ex rights: Sept. 22, 2017
Rights called for trading: Sept. 22, 2017
Rights trade for cash: Oct. 17, 2017, at 12 p.m. Eastern Time
Trading in the rights shall be for cash for the two trading days preceding the expiry date.
Rights expire: Oct. 19, 2017, at 5 p.m. ET
Oct. 17, 2017 -- to settle Oct. 18, 2017
Oct. 18, 2017 -- to settle Oct. 19, 2017
Oct. 19, 2017 -- to settle Oct. 19, 2017
Rights trading symbol: CNW.RT
Rights Cusip No.: 228462123
Subscription agent and trustee: Computershare Investor Services Inc.
Authorized jurisdiction: Alberta
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