Login
Allens advises on oil raising
Allens Arthur Robinson is advising oil and gas production and exploration company Solimar Energy Limited on its $7 million equity raising and possible future listing on the Toronto Stock…
Lawyers Weekly
Allens Arthur Robinson is advising oil and gas production and exploration company Solimar Energy Limited on its $7 million equity raising and possible future listing on the Toronto Stock Exchange or the TSX Venture Exchange.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Australian-based Solimar, which holds 130,000 gross acres in California's highly oil-prone San Joaquin Basin, will use the capital raised to progress its acreage acquisition programs and further exploitation (through drilling and production testing) of its core projects.
The capital raising, which is subject to shareholder approval, involves the issue of more than 63 million securities in Solimar Energy to sophisticated and institutional investors in North America. Each security will consist of one share and one warrant.
Partner Paul Quinn and senior associate Mark Malinas led the Allens team on the transaction.
