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Transactions in 2014

  

December 29, 2014 - Gulf Pine Energy Partners LP Purchases US Operating Assets from Dixie Energy Trust

Dixie Energy Trust sold US Operating Assets to Gulf Pine Energy Partners LP for US$47.5 Million. AltaCorp provided a fairness opinion to Dixie Energy Trust.
 

 

 

  

December 2, 2014 - Painted Pony Petroleum Ltd. Closes $63.3 Million Bought Deal Financing

Painted Pony sold 4.587 mm common shares at $12.00/share (a 4% discount to the November 12 opening price of $12.50), for gross proceeds at $55.0 mm. AltaCorp was part of the syndicate.
 

 

 

  

December 1, 2014 - Ag Growth International Inc. Closes Public Offering of Subscription Receipts and Convertible Debentures

Ag Growth International announced the closing of $90 Million offering of 967,000 subscription receipts at a price of $46.55 per subscription receipt and $45 Million principal amount of extendible convertible unsecured subordinated debentures at $1,000 per debenture for gross proceeds of $90,013,850. AltaCorp Capital participated as a member of the syndicate.
 

 

 

November 12, 2014 - AGT Food and Ingredients Inc. Closes Bought Deal Financing

AGT Food and Ingredients closed its previously announced offering of 2,858,000 common shares at a price of $28.00 per share for gross proceeds of $80,024,000. AltaCorp Capital was part of the bought deal syndicate.
 

  

  

November 7, 2014 - Contact Exploration Inc. Closes Private Placement

On October 21st 2014, Contact Exploration and Donnycreek Energy announced the merger of the two partners to form Kicking Horse Energy which will be led by the current Contact management team.
Announced at the same time as the merger, but not contingent upon the closing of the merger, was a private placement financing consisting of 62.2mm shares of Contact at $0.37/share (AltaCorp was a member of the syndicate), for total gross proceeds of ~$23mm. 
 

 

 

November 5, 2014 - Seven Generations Energy Ltd. Announces Completion of Initial Public Offering

Senven Generations Energy announced the closing of its initial public offering of 51.75 Million common shares at $18.00 per share for gross proceeds of $931.5 Million.  AltaCorp Capital participated as a member of the syndicate.
 

  

  

September 30, 2014 - Tamarack Valley Energy Ltd. Announces Closing of Successful Bought Deal Financing

AltaCorp was a participant in the underwriting syndicate of Tamarack Valley Energy's recent bought deal financing. Gross proceeds of $125.2mm were raised in exchange for an incremental 17.4mm shares, through a combination of sub-receipts and flow through shares (with the sub-receipt proceeds to be held in escrow until the closing of the proposed Wilson Creek acquisition). 
The closing of financing comes in conjunction with the recently announced acquisition of 1,702 boe/d (44% liquids) for $168.5mm at Wilson Creek. 
 

 

 

  

September 26, 2014 - PrairieSky Royalty Ltd. Closes $2.6 Billion Bought Deal

Encana sold the remainder of its stake in PrairieSky by way of a bought deal financing. The offering consisted of 70.2 mm common shares of PrairieSky, at $36.50/share, for total gross proceeds to Encana of ~$2.6 billion. Note that Encana no longer holds any interest in PrairieSky (down from 54% of shares outstanding prior). AltaCorp Capital participated as a member of the syndicate.
 

 

  

September 23, 2014 - Pine Cliff Energy Ltd. Completes $60 Million Common Share Offering

Pine Cliff successfully closed the $60mm bought deal offering of 29.3mm shares at a price of $2.05/sh. AltaCorp participated as a member of the underwriting syndicate.
 

 

  

September 19, 2014 - ShawCor Ltd. Announces Closing of Bought Deal Financing

ShawCor has closed its bought deal financing (announced September 10th, 2014). AltaCorp was an underwriter in the transaction.
Pursuant to the financing, underwriters purchased 3.65 mm SCL common shares, on a bought deal basis, at a price of $54.85 per share for gross proceeds of $200.2 mm. In addition, SCL has granted the underwriters an over-allotment option to purchase up to an additional 0.55 mm common shares at the offering price, for a period of 30 days following the closing of the offering. If the over-allotment option is exercised in full, gross proceeds from the offering will be $230.2 mm.

 

 

August 27, 2014 - CERF Incorporated and Winalta Inc. Complete Plan of Arrangement

CERF Incorporated acquired Winalta for ~$65 Million. AltaCorp participated as an Advisor to Winalta inc.
 

  

  

September 2, 2014 - New Wave Energy Services Group Ltd. Announces Acquisition of Daski Contracting Ltd.

New Wave Energy Services Group announced the acquisition of 100% of the shares of Daski Contracting Ltd. AltaCorp Capital participated as Advisor to New Wave Energy Services Group.
 

 

  

July 16, 2014 - Freehold Royalties Ltd. Closes Financing

Freehold assumes a priority share of Perpetual’s production through the creation of a gross overriding royalty (GORR) Joint Venture on East Edson acreage targeting the Wilrich formation. Freehold acquires an immediate royalty interest for $50 million, with a capital commitment of $70 million pursuant to a Farm out and Drilling Agreement.
Concurrent with the Perpetual transaction, Freehold issued 5.2 million shares at $26.90 for gross proceeds of $140 million (with an overallotment option of .465 million shares at $26.90.) AltaCorp Capital participated as a member of the syndicate.
 

 

 

  

July 11, 2014 - Canadian Energy Services & Technology Corp. Announces Closing of Bought Deal Financing

CEU has closed its bought deal financing (announced June 24th, 2014). AltaCorp was an underwriter in the transaction. 
Pursuant to the financing, underwriters purchased 2.15 mm CEU common shares, on a bought deal basis, at a price of $32.65 per share for gross proceeds of $70.0 mm. In addition, the underwriters exercised an over-allotment option for an additional 0.154 mm shares, raising an additional $5.0 mm (gross) for combined total gross proceeds of $75.2 mm (net proceeds of $72.2 mm).
 

 

 

July 10, 2014 - Bonavista Energy Corporation Increases Wilrich Ownership in $141 Million Acquisition

On June 18th 2014, Bonavista announced the purchase of its non-operating partner at its Wilrich play at Ansell for total consideration of $141 million. The company simultaneously announced a bought deal financing for gross proceeds of $201 Million. The offering consisted of 12.1 mm common shares at a price of $16.60/share. AltaCorp participated as a member of the syndicate.
 

  

 

July 9, 2014 - Input Capital Corp. Closes Equity Financing

On July 9th the company closed on a deal to issue 17.5 Class A common voting shares at a price of $2.30 per common share for total proceeds of $40.25 mm. An over-allotment option has also been authorized to purchase up to an additional 2.625 mm common shares at the same price for 30 days after the closing. If this over-allotment option is exercised in full
the total proceeds of the Offering will be $46.288 mm. AltaCorp Capital participated as a member of the syndicate.
 

  

 

July 9, 2014 - Paramount Resources Ltd. Closes Bought Deal Financing

The company announced a bought deal on June 26th, 2014. The bought deal consists of 4.6 mm shares at $60.00/share, for gross proceeds of $276 mm, along with 0.9 mm CEE flow-through shares at $74.40/share for gross proceeds of ~$67.0 mm. The company also issued 0.1 mm CEE flow-through shares at $74.40/share to Paramount’s Chairman and CEO Clayton Riddell (both directly and indirectly via controlled companies), for collective gross proceeds of ~$350 mm. AltaCorp Capital participated as a member of the bought deal syndicate.
 

  

 

July 8, 2014 - Canyon Services Group Inc. Announces Acquisition of Deep Coiled Tubing Assets

Canyon Services Group announced that it has acquired four deep coiled tubing packages (including twin fluid pumpers, BOPs, injectors and three cranes) for roughly $19.7 mm (roughly $5 mm paid for each package, which we estimate to be book value). The asset purchase is expected to close no later than July 15, 2014 and will be funded using FRC’s current banking facilities. AltaCorp Capital participated as Advisor to CASA Energy Services Corp.
 

  

  

June 19, 2014 - Journey Energy Inc. Announces Completion of Initial Public Offering

Journey Energy announced the completion of an initial public offering of 14,000,000 common shares and a secondary offering by Infra-PSP Partners Inc. of 2,500,000 common shares at a price of $12.50 per share for gross proceeds of $198,000,000. AltaCorp Capital participated as a member of the syndicate.
 

 

 

 

June 17, 2014 - Spartan Energy Corp. Closes $149.5 Million Equity Financing

Spartan Energy Corp. announced the completion of a bought deal financing of 39,870,500 common shares at a price of $3.75 per share for gross proceeds of $149.5 Million. AltaCorp Capital participated as a member of the bought deal syndicate.
 

  

 

June 12, 2014 - Secure Energy Services Inc. Announces Consolidation of All Operating Entities and Services Under One Brand Name

SES announced that it has consolidated all of its operating entities and services under the SECURE Energy Services brand name, with full implementation expected by year end. AltaCorp Capital participated as Advisor to Dril-X Fluids Inc.
 

  

  

June 11, 2014 - High Arctic Energy Services Inc. Announces Closing of Bought Deal Financing

HWO has closed its $25 mm bought deal financing (announced May 21st, 2014). AltaCorp was an underwriter in the transaction. Pursuant to the financing, underwriters purchased 5.1 mm HWO subscription receipts, on a bought deal basis, at a price of $4.95 per share for gross proceeds of $25.0 mm (net proceeds of $23.9 mm). FBC Holdings Sarl, an insider with ~41% ownership in HWO, agreed to purchase a minimum of 1.52 mm subscription receipts for gross proceeds of $7.5 mm. On closing, HWO has ~55.1 mm shares outstanding (up from 50.0 mm prior to the offering).
 

 

  

June 5, 2014 - Bellatrix Exploration Ltd. Closes Financing

Including the over-allotment, Bellatrix issued 18.7 mm common shares at a price of $9.50/share for gross proceeds of $172.6 Million. With the proceeds, Bellatrix expanded its capex budget to $500 Million (from $440 Million). AltaCorp Capital participated as a member of the syndiate.
 

 

 

May 29, 2014 - PrairieSky Royalty Ltd. Completes Initial Public Offering

PrairieSky Royalty announced the completion of the initial public offering of 52,000,000 common shares at a price of $28.00 for gross proceeds of ~$1.46 Billion. AltaCorp Capital participated as a member of the underwriting syndicate.
 

  

 

May 15, 2014 - Yangarra Resources Ltd. Closes Financing

Yangarra issued 22.7 mm common shares at $1.10 per share (gross ~$25.0 mm), along with an over-allotment of 2.3 mm common shares (gross ~$2.5 mm), with proceeds going towards increasing capex for the year to $75 mm (up from $50 mm prior). AltaCorp Capital participated as the Sole Bookrunner.
 

  

  

March 28, 2014 - Gear Energy Ltd. Closes $63.5 Million Financing

Gear Energy announced a $50 mm bought deal financing on March 6th, 2014, and subsequently increased the financing to $56 mm. Including the over-allotment option (which was fully subscribed), total proceeds were $63.5 mm, comprised of ~15.875 mm shares at $4.00/sh. Proceeds of the financing will be used to fund GXE’s capex program of $70 mm. The financing closed today and we are off restriction. AltaCorp Capital participated as a member of the syndicate.
 

 

 

March 25, 2014 - Kelt Exploration Ltd. Closes $147 Million Financing

On March 5th 2014, Kelt entered into a $147 mm bought deal. The financing consisted of a mixture of common shares (priced at $11.60/share) and flow-through shares, with management participating in ~9% of the total shares issues. AltaCorp participated as a member of the bought deal syndicate.
 

  

 

March 18, 2014 - BlackPearl Resources Inc. Announces Closing of Bough Deal Equity Financing

BlackPearl Resources closed a bought deal offering of 26,500,000 common shares at $2.65 per share for gross proceeds of $70,225,000. AltaCorp Capital participated as a member of the syndicate.
 

  

 

February 24, 2014 - Baytex Energy Corp. Announces Closing of $1.5 Billion Subscription Receipt Offering

On February 6th 2014, Baytex announced their intention to acquire all the outstanding shares of Aurora Oil & Gas Limited for A$4.10 /share. In conjunction with the Aurora announcement, Baytex has completed a $1.5 billion subscription receipt financing (38.4 million at $38.90 /share). AltaCorp Capital participated as a member of the syndicate.
 

  

 

February 19, 2014 - Tamarack Valley Energy Ltd. Closes Equity Financing

Tamarack Valley Energy announced the closing of bought deal financing of 14,000,000 common shares at a price of $4.30/share for gross proceeds of $60,200,000. AltaCorp Capital participated as a member of the syndicate.
 

  

 

February 11, 2014 - Exchange Income Corporation Closes Debenture Issue

Exchange Income Corp. issued $40mm of unsecured convertible debentures maturing March 31, 2021 at an annualized coupon of 6.00% and a conversion price of $31.70. AltaCorp Capital participated as a member of the underwriting syndicate.
 

  

 

January 2, 2014 - Alliance Grain Traders Inc. Closes Bought Deal Secondary Offering

Alliance Grain Traders announced the completion of the sale of 1,870,000 common shares by The Carne Truste (including 170,000 common shares pursuant to the full exercise of the over-allotment option granted by The Carne Trust) for gross proceeds of $28,050,000. AltaCorp Capital participated as a member of the syndicate.