- Sintana Energy (SEI) has announceda marketed public offering of units for gross proceeds of up to $10 million
- The company will issue units priced at $0.15
- Net proceeds will be used to fund the balance of the cash purchase price owing in the acquisition of 49 per cent of the outstanding shares of Inter Oil (Pty) Ltd.
- The offering is expected to close on or about February 28, 2022
- Sintana Energy is a Canada-based oil and gas exploration company
- Shares of Sintana Energy Inc. (SEI) opened trading at C$0.16
Sintana Energy (SEI) has announced a marketed public offering of units for gross proceeds of up to $10 million.
The company will issue units priced at $0.15. Each unit will consist of one common share and one share purchase warrant. Each warrant shall entitle the holder to acquire one additional share at an exercise price of $0.25 for a period of 24 months.
Net proceeds will be used to fund the balance of the cash purchase price owing in the acquisition of 49 per cent of the outstanding shares of Inter Oil (Pty) Ltd. , to satisfy existing indebtedness, for future strategic acquisitions and for working capital and general corporate purposes.
The offering will be conducted by Echelon Capital Markets as lead agent and sole bookrunner.
The offering is expected to close on or about February 28, 2022.
The company has granted the agent an over-allotment option exercisable in whole or in part at any time for a period of 30 days after the closing date.
Sintana Energy is a Canada-based oil and gas exploration company engaged in hydrocarbons exploration and development activities in Colombia’s Magdalena Basin.
Shares of Sintana Energy Inc. (SEI) opened trading at C$0.16.
