CALGARY, ALBERTA--(Marketwired - Sept. 3, 2014) - NuVista Energy Ltd. (TSX:NVA) ("NuVista") is pleased to announce that it has closed its previously announced private placement of an aggregate of 2,360,655 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) for gross proceeds of approximately $29.4 million.
Approximately 1,476,144 of the shares (the "CDE FT Shares") were issued at a price of $11.99 per share and the purchasers will be entitled to renunciations of Canadian development expense. Approximately 884,511 of the shares (the "CEE FT Shares") were issued at a price of $13.19 per share and the purchasers will be entitled to renunciations of Canadian exploration expense. Certain directors and officers of NuVista participated in the Offering and acquired 133,360 CDE FT Shares and 57,202 CEE FT Shares.
NuVista is an independent Canadian oil and natural gas exploration, development and production company with its Common Shares trading on the Toronto Stock Exchange under the symbol "NVA".