Financial Wire

Coelacanth Energy Upsizes Bought-Deal Financing to $80 Million

-- Coelacanth Energy (CEI.V) on Friday said it is upsizing a bought-deal share offering to $80 million from $60 million.

The company will now sell underwriters 97.6-million shares priced at $0.82 apiece. The offering is no longer subject to an over-allotment option.

Proceeds from the offering will be used for exploration and development of its projects in the Montney and Two River areas in British Columbia and for working capital and general corporate needs. The offering is anticipated to close on or about May 6, and is subject to certain conditions.

Shares of the company were last seen down $0.04 to $0.82 on the TSX Venture Exchange.

Price: $0.82, Change: $-0.04, Percent Change: -4.65%

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