Cabot is acquiring the 25% WI in the Rainbow/Virgo assets in Canada held by H2P, taking Cabot’s stake to 100%. Cabot is also buying H2P’s option to acquire a further 25% in the Canadian assets for US$4.0 mm. The consideration is US$8.71 mm, to be paid through new shares and deferred cash of US$1.75 mm. Cabot is also raising up to US$16.5 mm (£12.3 mm) at 5p/sh. The equity raise includes £8.9 mm from H2P. The funds will be invested in work programmes in Canada to double
21 Dec 2017
Simplified structure, funding and more growth
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Simplified structure, funding and more growth
Cabot is acquiring the 25% WI in the Rainbow/Virgo assets in Canada held by H2P, taking Cabot’s stake to 100%. Cabot is also buying H2P’s option to acquire a further 25% in the Canadian assets for US$4.0 mm. The consideration is US$8.71 mm, to be paid through new shares and deferred cash of US$1.75 mm. Cabot is also raising up to US$16.5 mm (£12.3 mm) at 5p/sh. The equity raise includes £8.9 mm from H2P. The funds will be invested in work programmes in Canada to double