Canadian liquefied natural gas infrastructure company Pieridae Energy Ltd. has announced a private placement of up to 7.5 million common shares at a price of $2 per share for gross proceeds of up to $15 million.
The company has entered into an agreement with a syndicate of investment dealers co-led by KES 7 Capital Inc., National Bank Financial Inc. (NBF) and Laurentian Bank Securities Inc. with KES 7 and NBF acting as joint book runners, in connection with the offering.
Pieridae Energy plans to use the net proceeds from the offering for working capital and general corporate purposes.
The offering is anticipated to be completed on or about February 28, 2019.