CGX Energy Inc. (TSX-V: OYL) (“CGX”), a Canadian-based oil and gas exploration company, completed a brokered private placement raising $37,008,900 by issuing 370,089,000 units (the “Units”) at a price of $0.10 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at any time until April 26, 2018 at an exercise price of $0.17. Pacific Rubiales Energy Corp. (“Pacific Rubiales”) subscribed for 350,000,000 Units, which increases Pacific Rubiales’ ownership of CGX to 494,434,285 Common Shares, representing approximately 63.2% of the issued and outstanding shares in the capital of the Company on a non-diluted basis.
GMP Securities L.P. acted as financial advisor to CGX in connection with the private placement.
Wildeboer Dellelce LLP acted for GMP with a team that included Perry Dellelce, Derek Sigel, Peter Simeon and Shayn Diamond (corporate/securities).