This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Canacol Energy arranges $20-million private placement 2009-09-23 08:13 ET - News Release
Mr. Charle Gamba reports CANACOL ENERGY LTD. ANNOUNCES $20 MILLION UNDERWRITTEN PRIVATE PLACEMENT EQUITY FINANCING Canacol Energy Ltd. has entered into an agreement with a syndicate of underwriters, led by Canaccord Capital Corporation and including FirstEnergy Capital Corp., pursuant to which such underwriters have agreed to purchase, on an underwritten private placement basis, 71,429,000 common shares at a price of 28 cents per common share to raise gross proceeds of $20,000,120.
In addition, the underwriters will be entitled to an option, exercisable in whole or in part at the sole discretion of the underwriters to purchase up to an additional 7,143,000 common shares for additional gross proceeds of up to $2,000,040 at a price of 28 cents per common share prior to closing date of the offering. If the overallotment option is exercised in full, the total gross proceeds raised from the offering will be $22,000,160. The offering is expected to close on or about Oct. 15, 2009.
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