Questerre Energy : announces proposed private placement


04/23/2019 | 10:59am EDT
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CALGARY, Alberta, April 23, 2019 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) is pleased to announce that it intends to complete a private placement directed towards Norwegian and international institutional investors (the “Private Placement”).

The Company intends to use the net proceeds from the Private Placement to strengthen its working capital, partially finance its ongoing Montney capital program and the preliminary work for its planned clean tech energy project in the St. Lawrence Lowlands, Quebec.

The Private Placement will consist of the issuance of up to 38.9 million Common Shares of the Company. The Private Placement will be priced in the context of the market and will be carried out through an accelerated book building process that will close on or before 08:00 (CET) on April 24, 2019. The minimum subscription and allocation is for Common Shares with an aggregate purchase price equivalent to EUR 100,000. Payment for the new shares is expected to be on or about April 30, 2019. The Company with the Managers (defined below) reserves the right to close or extend the application period at any time at their sole discretion. The result of the Private Placement is expected to be announced prior to the start of stock exchange trading on Oslo Børs (“OSE”) on April 24, 2019. The Board of Directors will give due consideration to the issues related to equal treatment of shareholders arising from the Private Placement.

https://www.marketscreener.com/QUESTERRE-ENERGY-CORPORAT-1411388/news/Questerre-Energy-announces-proposed-private-placement-28464710/