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Kelt Exploration Upsizes Equity Financing

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March 6, 2014

Kelt Exploration Ltd. (TO: KEL.TO) upsized a brokered equity financing, the company said March 5. Total proceeds, depending on underwriters’ actions, could range between CA$122.7 million-CA$132.9 million.

The revised agreement has a syndicate of underwriters led by Peters & Co. Ltd., and the underwriters will purchase, for resale to the public, 8.5 million common shares, the company said.

Purchases will be on a bought deal private placement basis, and shares are priced at CA$11.60 each, Kelt added.

The original gross proceeds will total CA$98.6 million, the company said, adding that ...

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