Oil exploration company, CGX Energy Inc has raised US$23 million in its latest share offering which will be used to fund its capital programme offshore Guyana and for general corporate purposes.
The company, in a statement on Tuesday, announced that it has closed its previously announced offering of common shares at $0.90 per share. Pursuant to the Offering, CGX had issued 25 587 500 common shares of the Company for gross proceeds of $23 028 750 which included the full exercise of the over-allotment option.
The statement said that the Offering was led by Cormark Securities Inc. and included Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd., GMP Securities L.P. and Toll Cross Securities Inc. As compensation for their