On March 10, 2022, Saturn Oil & Gas Inc. (the “Company”), closed the short form prospectus offering, on a bought deal basis, for gross proceeds of $20,613,000.
The offering was conducted by Echelon Capital Markets, as lead underwriter (the “Lead Underwriter”) including Beacon Securities Limited, Canaccord Genuity Corp., Raymond James Ltd. and Velocity Trade Capital Ltd. A total of 6,141,000 units of the Company at a price per unit of $3.00 were issued, inclusive of the exercise of the over-allotment option in its entirety. Each unit consists of one common share of the Company and one common share purchase warrant (“Warrant”), each Warrant being exercisable into one additional common share of the Company for a period of 36 months from the date of closing at an exercise price of $4.00.
Fasken acted as counsel to the Lead Underwriter with a team that included Jason Giborski, Bill deJong, Payton Holliss and Gabriel Lam.Jurisdictions
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Nova Scotia
- Ontario
- Saskatchewan
- Prince Edward Island
