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CALGARY, Alberta, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Logan Energy Corp. (TSXV:LGN) ("Logan" or the "Company") is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters with National Bank Financial Inc. as sole bookrunner and co-lead underwriter and Eight Capital as co-lead underwriter to increase the size of its previously announced bought-deal private placement financing (the "Equity Offering"). Logan will now issue 68,494,000 common shares ("Common Shares") at a price of $0.73 per Common Share to raise aggregate gross proceeds of approximately $50.0 million pursuant to the Equity Offering.
In all other respects, the terms of the Equity Offering and use of proceeds therefrom will remain as previously disclosed in the September 12, 2024 press release.
The completion of the Equity Offering is subject to customary closing conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange ("TSXV"). Closing of the Equity Offering is expected to occur on or around October 3, 2024
ABOUT LOGAN ENERGY CORP.
Logan is a growth-oriented exploration, development and production company formed through the spin-out of the early stage Montney assets of Spartan Delta Corp. Logan was founded with a strong initial capitalization and three high quality and opportunity rich Montney assets located in the Simonette and Pouce Coupe areas of northwest Alberta and the Flatrock area of northeastern British Columbia and has recently established a position within the greater Kaybob Duvernay oil play with assets in the North Simonette and Ante Creek areas. The management team brings proven ...
