Questerre to list 7.5 million shares on June 10
2008-06-06 16:28 ET - Prospectus Approved
TSX bulletin 2008-0611
An additional 7.5 million Class A common voting shares will be listed at the open on Tuesday, June 10, 2008. The listing will cover Class A common voting shares to be sold to the public at a price of $4.70 per share, pursuant to the terms of a short form prospectus dated June 4, 2008. The closing is expected to occur prior to the open on June 10, 2008.
Questerre Closes $35 Million Canadian Offering
09:45 EDT Tuesday, June 10, 2008
CALGARY, ALBERTA--(Marketwire - June 10, 2008) -
NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) (OSLO:QEC) reported today that it has closed its previously announced Canadian offering for gross proceeds of $35.25 million.
The offering consisted of the issuance of 7.5 million common shares at $4.70 per common share. A syndicate of underwriters led by Dundee Securities Corporation and including Desjardin Securities Inc., National Bank Financial Inc., Fraser Mackenzie Limited, Wellington West Capital Markets Inc., Maison Placements Canada Inc., and Canaccord Capital Corporation conducted the offering. The syndicate has been granted an over allotment option to purchase an additional 1.125 million common shares at $4.70 per common share expiring July 9, 2008.
This Canadian tranche in conjunction with the Norwegian tranche completed last week resulted in the issuance of a total of 15 million common shares at $4.70 per common share for gross proceeds of approximately $70.50 million.
Questerre also reported on the results from its annual and special meeting of shareholders held on June 9, 2008. Votes representing approximately 35% of the issued and outstanding common shares were present in person or by proxy. All resolutions set forth before the shareholders were approved with the requisite majority.
Messrs. Tom Landry Jr. and Jed Wood did not stand for re-election to the Board of Directors for the coming year. Mr. Landry has been a director since 2001 and Mr. Wood has been a director since 2003. Both directors have been tremendous supporters of the Company through its start up phase.
Questerre would like to thank them for the contributions during their tenure on the Board and wishes them the best in their future endeavors. The Board currently consists of six members: Les Beddoes, Jr., Michael Binnion, Russ Hammond, David Mallory, Peder Paus and Bjorn Inge Tonnessen.
Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.
This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein.
This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.
FOR FURTHER INFORMATION PLEASE CONTACT:Questerre Energy Corporation
Jason D'Silva
VP Finance
(403) 777-1185
(403) 777-1578 (FAX)
Email: info@questerre.com
Website: www.questerre.com
Tuesday, June 10, 2008
Questerre Closes $35 Million Canadian Offering
Monday, June 9, 2008
Subscribe to:
Posts (Atom)