Bukit Energy Press Release
June 7, 2012
Bukit Energy Closes Financing
Bukit Energy Inc. has closed its brokered and non-brokered private placement and Series A convertible preferred shares for gross proceeds of $16.16 million.
The offering was completed at a price of $2.25 per share.
Each preferred share is convertible into one common share of Bukit at a value of $2.25 per common share, subject to certain adjustments and additional rights and restrictions attached to each preferred share.
Bukit intends to use the proceeds of this offering to continue its pursuit of onshore liquids-rich opportunities in Indonesia, with a focus on Sumatra. The company conducts its operations in Indonesia through its wholly-owned Singapore subsidiary, Bukit Energy Indonesia Pte. Ltd.
Macquarie Capital Markets Canada Ltd. acted as the agent for the brokered portion of the offering.
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