CALGARY, Alberta, Sept. 14, 2023 (GLOBE NEWSWIRE) — Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. to increase the size of its previously announced bought-deal financing (the “Offering”). Lycos will now issue 8,574,000 common shares (the “Common Shares”) at a price of $3.55 per Common Share to raise aggregate gross proceeds of $30,437,700 pursuant to the Offering.
The underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at a price of $3.55 per Common Share to cover over allotments exercisable in whole or in part at any time until 30 days after the closing of the Offering.
There are 40,404,140 Lycos Shares issued and outstanding as of the date hereof. Following the completion of the Acquisition and the upsized Offering (prior to giving effect to the over-allotment), there will be 51,795,041 Lycos Shares issued and outstanding.
In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated September 13, 2023.
| Additional Information | |
| For further information, please contact: | |
| Dave Burton President and Chief Executive Officer T: (403) 616-3327 E: dburton@lycosenergy.com |
Lindsay Goos Vice President, Finance and Chief Financial Officer T: (403) 542-3183 E: lgoos@lycosenergy.com |
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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