Published on October 24th, 2012 | by Ted Liu0
Cardinal Energy secures new financing
GMP Securities L.P., BMO Capital Markets, Macquarie Capital Markets Canada Ltd., and Desjardins Capital Markets acted as agents for the brokered part of the placement.
Cardinal Energy has raised $ (Premium contents. Be first to know: Subscribe) million since September 2012.
Burnet, Duckworth & Palmer LLP acts as legal counsel to Cardinal Energy.
Founded by former executives of Midway Energy Ltd. (formerly TSX: MEL), Cardinal Energy is being led by Chairman & CEO, Scott Ratushny, Shane Peet, COO, Doug Smith, CFO, Craig Kolochuk, VP of Land, who also held same positions with Midway Energy.
In April 2012, Whitecap Resources Inc. (TSX: WCP) acquired Midway Energy for approximately $490.2 million, including $111.4 million in cash, assumed debt and working capital deficit of $132.4 million and the issuance of 32.1 million Whitecap common shares.
photo courtesy benklocek
Tags: BMO Capital Markets, Burnet Duckworth & Palmer, Cardinal Energy, cott Ratushny, Craig Kolochuk, Desjardins Capital Markets, Doug Smith, GMP Securities, Macquarie Capital Markets, Midway Energy, Shane Peet, Whitecap Resources
About the Author
Ted Liu Ted is an editor of CanadianPrivateEquity.com and Research Director for CVCA - Canada's Venture Capital and Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.