Canyon Services Increases Financing To $50 Million

摘要

Canyon Services Group Inc. has reached an agreement with a syndicate of underwriters led by Cormark Securities Inc. to increase the total size of a bought deal financing to $50 million.Under the agreement, the syndicate will now purchase on a "bought deal" basis from Canyon 10 million common shares at an issue price of $2 per common share in addition to the 15 million common shares to be issued to ARC Energy Fund 6 on an underwritten private placement basis at an issue price of $2 per share for gross proceeds to Canyon of approximately $50 million.