Antrim Closes for Gross Proceeds of $3.1MM
Antrim Energy Inc. has closed the sale of an additional 1,000,000 common shares at $3.10 per share for gross proceeds of $3,100,000 in connection with the partial exercise of the over-allotment option granted to the Underwriters under its recent bought deal financing, which closed on July 15, 2008.
Upon closing of the purchase of the over-allotment shares, a total of 17,130,000 common shares have been sold, resulting in gross proceeds of C$53,103,000. The syndicate was co-led by RBC Capital Markets, as sole bookrunner, and Wellington West Capital Markets Inc. and also includes Cormark Securities Inc. and Research Capital Corporation, collectively (the "Underwriters").
Antrim has made an application to the London Stock Exchange for 1,000,000 new shares to be admitted to trading on AIM and admission is expected to take place on August 26, 2008. After giving effect to the financing, Antrim has 134,955,664 common shares issued and outstanding.
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