A total of 9,300,000 common shares of Longview Oil Corp. (TO: LNV.TO) were acquired by Surge Energy Inc. (TO: SGY.TO), Surge said Feb. 28.
The shares were a 19.8% block of the total outstanding common share amount, the company added. They were purchased at $4.45 each, the company said, noting that they were acquired pursuant to a bought deal secondary offering.
The shares sold in the bought deal secondary offering were sold by an existing Longview Oil shareholder, also on Feb. 28, Surge added.
Surge will use the acquisition to ...