Source: Surge Energy Inc.
  • Surge will now issue 7,568,000 common shares for $9.25 per share to raise aggregate gross proceeds of $70,004,000
  • The maximum gross proceeds that could be raised under the offering is $80,504,600 should the underwriters’ over-allotment option be fully exercised
  • Surge Energy is engaged in the exploration, development, and production of oil and gas from properties in western Canada
  • Surge Energy Inc. (SGY) opened trading at C$10.27

Surge Energy (SGY) has agreed to increase the size of its previously announced bought-deal financing.

Surge will now issue 7,568,000 common shares for $9.25 per share to raise aggregate gross proceeds of $70,004,000.

The underwriters will have an over-allotment option. The maximum gross proceeds that could be raised under the offering is $80,504,600 should the over-allotment option be exercised in full.

Surge Energy is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products.

Surge Energy Inc. (SGY) opened trading at C$10.27. 

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