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:Cirrus Energy arranges $45-million financing 2009-09-21 08:28 ET - News Release Mr. David Taylor reports CIRRUS ENERGY CORPORATION ANNOUNCES $45 MILLION BOUGHT DEAL FINANCING AND OPERATIONAL UPDATE Cirrus Energy Corp. has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. and including FirstEnergy Capital Corp., BMO Capital Markets, Haywood Securities Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. to issue on a bought-deal basis 14.29 million common shares at an issue price of $3.15 per common share for gross proceeds of approximately $45.0-million. As consideration for their services, the underwriters shall receive 5 per cent of the gross proceeds of the offering. Cirrus has also granted the underwriters an option to purchase up to an additional 2,143,500 common shares to cover overallotments, if any, for additional gross proceeds of approximately $6.75-million. The overallotment option is exercisable in whole or in part for a period of 10 days following closing of the offering. The offering is scheduled to close on or about Oct. 14, 2009, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Proceeds of the offering will be used to finance the corporation's capital program, finance future acquisitions and for general working capital requirements. The common shares will be offered in certain provinces of Canada by way of a short-form prospectus. The remainder is available to Stockwatch subscribers.
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