CALGARY, AB–(Marketwired – October 04, 2016) – Encana Corporation (“Encana”) (TSX: ECA) (NYSE: ECA) announced today that, in connection with its completed public offering of 107,000,000 common shares (“Shares”) of Encana at a price of US$9.35 per Share (the “Offering Price”), the over-allotment option granted to the underwriters to purchase up to an additional 16,050,000 additional Shares (the “Over-Allotment Option”) at the Offering Price was exercised in full for additional gross proceeds to Encana of approximately US$150 million. The sale of the additional Shares today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to Encana from the offering, including the Over-Allotment Option (collectively, the “Offering”), to approximately US$1.15 billion.
The Offering was made through a syndicate of underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan.