BNK Petroleum Inc. - 2010-10-19
Description
Made a non-brokered C$66 million private placement, representing 26 million common shares at a price of C$2.54 per share, to Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC. Net proceeds will be used for general corporate purposes, including work commitments on European shale gas concessions. Macquarie Capital Markets Canada Ltd. is financial advisor; GMP Securities LP, TD Securities Inc. and Paradigm Capital Inc. are strategic advisors. Quantum is expected to hold approximately 19.5% of the company's issued and outstanding shares.