Orleans Raising Funds For Kaybob Pipeline

摘要

Orleans Energy Ltd. has entered into an equity financing agreement on a "bought deal" basis under which it will issue, on an underwritten basis, 7.18 million common shares at a price of $1.95 per share for total gross proceeds of $14 million.The financing will be led by GMP Securities L.P., on behalf of a syndicate of underwriters. The financing is subject to customary regulatory and stock exchange approvals.