NuVista Energy Ltd. Announces Closing of Equity Financings
CALGARY, ALBERTA--(Marketwired - Oct. 29, 2013) - NuVista Energy Ltd. (TSX:NVA) ("NuVista") is pleased to announce that it has closed its previously announced private placement and public offering of an aggregate of 5,129,000 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) for gross proceeds of approximately $39.7 million.
NuVista has completed a public offering of 3,200,000 common shares issued on a "flow-through" basis in respect of Canadian exploration expense ("CEE Shares") through a syndicate of underwriters co-led by Peters & Co. Limited and RBC Capital Markets Corp. and including CIBC World Markets Inc., FirstEnergy Capital Corp., Scotia Capital Inc., BMO Capital Markets and TD Securities Inc. (collectively, the "Underwriters") at a price of $8.00 per CEE Share for gross proceeds of $25.6 million.
In addition, on October 28, 2013 NuVista issued, on a private placement basis, 254,000 CEE Shares at a price of $8.00 per CEE Share and 1,675,000 common shares issued on a "flow-through" basis with respect to Canadian development expense (the "CDE Shares") at a price of $7.20 per CDE Share for aggregate gross proceeds of approximately $14.1 million.
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".
President and CEO
NuVista Energy Ltd.
Robert F. Froese
VP, Finance and CFO