SAEUF - Saturn Oil & Gas upsizes bought public offering

Saturn Oil & Gas (OTC:SAEUF) amended the terms of its previously announced offering of units. A syndicate of underwriters led by Echelon Capital Markets agreed to purchase 5.34M units at C$3/unit and offer them to the public by way of short-form prospectus for total gross proceeds of C$16.02M. Each unit will consist of 1 share and 1 share purchase warrant. Each warrant will be exercisable to acquire 1 share for 36 months following closing date at exercise price of C$4. SAEUF granted the underwriters an over-allotment option to purchase up to an additional 801K units at the issue price, exercisable in whole or in part at any time up to 30 days following the closing date of the bought public offering. Net proceeds will be used to expand capital expenditures, fund a portion of the consideration for a strategic acquisition and for working capital. Closing of the bought public offering

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Saturn Oil & Gas upsizes bought public offering