Mitra will proceed with a private placement of 132.5 mm shares at C$0.40/sh for gross proceeds of C$53 mm (c. US$40 mm). This will be used to fund the previously announced purchase of the Stag Oilfield in Australia (US$10 mm), a letter of credit (US$10 mm) for a key contractor to Stag for obligations under a long term contract, further appraisal and infill drilling and working capital. C$0.40/sh represents a c. 22% discount to Wednesday’s closing price of C$0.51/sh. Mitra has also entered into a ....
04 Nov 2016
US$68 mm new funding through private placement and convertible debt facility
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US$68 mm new funding through private placement and convertible debt facility
Montanaro European Smaller Companies Trust PLC (MTE:LON) | 142 0 0.0% | Mkt Cap: 269.9m
- Published:
04 Nov 2016 -
Author:
Stephane Foucaud -
Pages:
7
Mitra will proceed with a private placement of 132.5 mm shares at C$0.40/sh for gross proceeds of C$53 mm (c. US$40 mm). This will be used to fund the previously announced purchase of the Stag Oilfield in Australia (US$10 mm), a letter of credit (US$10 mm) for a key contractor to Stag for obligations under a long term contract, further appraisal and infill drilling and working capital. C$0.40/sh represents a c. 22% discount to Wednesday’s closing price of C$0.51/sh. Mitra has also entered into a ....