Davis Client, Canacol, raised $57.5 Million to fund its Oil & Gas Exploration Activities in Colombia
We are pleased to announce that the firm's client, Canacol Energy Ltd., raised $57,500,288 through a bought deal prospectus offering with a syndicate of underwriters, including the underwriters' exercise of their over-allotment option. The net proceeds of the offering will be used to fund seismic acquisition and drilling of exploration wells, the acquisition of new exploration blocks in Colombia and the repayment of debt. Canacol is a Canadian-based international oil and gas corporation with operations in Colombia, Brazil and Guyana.
The Davis team that represented Canacol was led by Trevor Wong-Chor and Robert Black, and included Derrick Auch, Michael Coburn, Jonathan Brown and Graham Norris.
Please see the attached document to view the media release distributed by Canacol.