Content area
Abstract
Pace Oil & Gas Ltd. ("Pace" or the "Company") (TSX:PCE) is pleased to announce the closing of its previously announced strategic asset acquisitions and a $61 million bought deal financing of 6,446,000 common shares of Pace ("Common Shares") at a price of $7.75 per Common Share for gross proceeds of $49,956,500 and 1,142,670 Common Shares, to be issued on a "flow-through" basis under the Income Tax Act (Canada) with respect to Canadian exploration expense ("Flow-Through Common Shares"), at a price of $9.70 per Flow-Through Common Share for additional gross proceeds of $11,083,899 (collectively, the "Financing"). The Financing was for aggregate gross proceeds of $61,040,399 (after giving effect to the exercise in full of the Over-Allotment Option granted to the Underwriters) and was raised by a syndicate of underwriters, co-led by National Bank Financial Inc. and Paradigm Capital Inc. and including Cormark Securities Inc., FirstEnergy Capital Corp. and Acumen Capital Finance Partners Limited (collectively, the "Underwriters").
Certain statements contained within this press release constitute forward looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements.