Pieridae Energy setting up $20 mln share sale

Pieridae Energy setting up $20 mln share saleImage courtesy of Pieridae Energy

Canadian LNG project developer Pieridae Energy has struck a deal with a number of investment dealers on a $15 million private placement as it pushed forward with the Goldboro LNG project.

The company said it has reached an agreement with a syndicate of investment dealers co-led by KES 7 Capital Inc., National Bank Financial and Laurentian Bank
Securities.

Pieridae Plans to offer 7.5 million shares at a $2/per share price, with an over-allotment option of an additional 20 percent of the base offering.

It is also eyeing a non-brokered private placement of shares to insiders and investors with net proceeds of about $5 million.

Pieridae Energy said that Alberta Investment Management Corporation has already agreed to buy 5 million shares at the $2 price.

The Offering is expected to close on or about February 28, 2019, the company said.

The company intends to use the net proceeds for working capital and general purposes.

The company continues to pursue preparatory work in relation to a final investment decision for the Goldboro LNG facility including the procurement of additional natural gas prone properties, and gas exploration and development activities.

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >