NuVista Energy Ltd. Announces Completion of $40 Million Equity Financing
CALGARY, ALBERTA--(CCNMatthews - April 20, 2007) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that it has completed its previously announced equity issue of 2,750,000 Common Shares ("Shares") on a bought deal basis at a price of $14.50 per Share to a syndicate of investment dealers co-led by TD Securities Inc. and Peters & Co. Limited and including BMO Capital Markets, CIBC World Markets Inc., FirstEnergy Capital Corp., GMP Securities L.P., RBC Capital Markets, Canaccord Adams, Orion Securities Inc., Cormark Securities Inc. and Tristone Capital Inc. for gross proceeds of $39,875,000.
The net proceeds of the offering will be used to fund NuVista's ongoing capital program and for general corporate purposes. Initially the net proceeds will be used to reduce indebtedness.
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".
Corporate information provided herein contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by NuVista at the time of preparation, may be proven to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. There is no representation by NuVista that actual results achieved during the forecast period will be the same in whole or in part as those forecast.