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| Home : NuVista Energy Ltd. Announces $21.5 Million CDE Flow Through Equity Financing |
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Jun 16
2016 |
NuVista Energy Ltd. Announces $21.5 Million CDE Flow Through Equity Financing |
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CALGARY, ALBERTA--(Marketwired - June 15, 2016) - NuVista Energy Ltd. ("NuVista" or the "Company") (TSX:NVA) is pleased to announce the issuance by way of a private placement, of up to 3.16 million common shares on a "flow-through" basis pursuant to the Income Tax Act (Canada) at a price of $6.65 per share for gross proceeds of approximately $21.0 million (the "Offering"). The purchasers shall be entitled to renunciations of Canadian Development Expenses ("CDE"). In addition, certain directors, officers and employees of the Company intend to acquire on a non-brokered basis up to 92,000 common shares on a "flow-through" basis for total proceeds of $0.6 million on the same terms. Total net proceeds to the Company, after expenses related to the Offering and the non-brokered private placement, are estimated to be approximately $21.5 million. |
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| Source:http://www.marketwired.com/mw/release.do?id=2134538&sourceType=3 |
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