Paramount Resources Ltd. Completes Previously Announced Flow-Through Share Offerings Totaling $63 Million
20 Oktober 2011 - 3:22PM
Marketwired
Paramount Resources Ltd. (TSX:POU) ("Paramount") has completed
its previously announced public offering of 1,450,000 Class A
Common Shares ("Common Shares") issued on a "flow-through" basis in
respect of Canadian exploration expenses at a price of $40.50 per
share for gross proceeds of $58,725,000. The shares were sold
through a syndicate of underwriters led by BMO Capital Markets.
Paramount has also completed its previously announced private
placement of 100,000 Common Shares issued on a "flow-through" basis
in respect of Canadian exploration expenses at a price of $40.50
per share to companies controlled by Mr. Clayton H. Riddell,
Paramount's Chairman and Chief Executive Officer, for gross
proceeds of $4,050,000.
Paramount is a Canadian oil and natural gas exploration,
development and production company with operations focused in
Western Canada. Paramount's Common Shares are listed on the Toronto
Stock Exchange under the symbol "POU".
Contacts: Paramount Resources Ltd. J.H.T. (Jim) Riddell
President and Chief Operating Officer (403) 290-3600 (403) 262-7994
(FAX) Paramount Resources Ltd. B.K. (Bernie) Lee Chief Financial
Officer (403) 290-3600 (403) 262-7994 (FAX) Paramount Resources
Ltd. 4700 Bankers Hall West 888 3rd Street S.W. Calgary, Alberta
T2P 5C5
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