-- Coelacanth Energy (CEI.V) after trade Thursday said it is raising C$60 million in a bought-deal offering of shares.
The company is selling a syndicate of underwriters 73.17-million shares at a price of C$0.82 each.
In addition, the company agreed to grant the Underwriters an over-allotment option to purchase up to an additional number of shares equal to 15% of the shares sold. If exercised in full, this would result in additional gross proceeds to the company of approximately C$9.0 million.
The company said it intends to use the net proceeds from the offering, including any net proceeds received in connection with the exercise of the over-allotment option, for exploration and development of its projects in the Montney and Two River areas in British Columbia and for working capital and general corporate purposes.
The offering is anticipated to close on or about May 6, 2026 and is subject to certain conditions.
The company's shares closed down $0.04 to $0.86 on the TSX Venture Exchange.