Cardinal Energy Ltd. Announces Closing of Private Placement
10 Febbraio 2014 - 2:48PM
Marketwired
Cardinal Energy Ltd. Announces Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - Feb 10, 2014) - Cardinal Energy
Ltd. ("Cardinal") (TSX:CJ) is pleased to announce that it has
closed the previously announced private placement (the "Offering")
of 2,187,500 common shares ("Common Shares") at a price of $12.80
per Common Share. The gross proceeds from the Offering totalled $28
million.
The Offering was underwritten by a syndicate of underwriters
co-led by RBC Capital Markets and CIBC and included GMP Securities
L.P., Macquarie Capital Markets Canada Ltd., Scotiabank and
FirstEnergy Capital Corp.
The net proceeds from the Offering were used to repay
indebtedness incurred by the previously announced acquisition of
oil and gas assets in Cardinal's core Bantry area of Alberta which
closed on January 28, 2014. The purchase price for the assets was
approximately $27 million before customary adjustments.
About Cardinal Energy Ltd.
Cardinal is a junior Canadian oil focused company built to
provide investors with a stable platform for dividend income and
growth. Cardinal's operations are focused in all season access
areas in Alberta. Cardinal's Common Shares are listed on the
Toronto Stock Exchange under the symbol "CJ".
Cardinal Energy Ltd.M. Scott RatushnyChief Executive Officer and
Chairman(403) 216-2706Cardinal Energy Ltd.Douglas SmithChief
Financial Officer(403) 216-2709Cardinal Energy Ltd.Suite 1400, 440
- 2nd Avenue S.W.Calgary, Alberta T2P 5E9(403) 234-8681(403)
234-0603
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