Kelt Exploration completes its convertible debenture financings

On May 3, 2016, Kelt Exploration Ltd. (Kelt) announced that it had closed its convertible debenture financing by way of a short form prospectus on a bought deal basis, completing the sale of $75 million principal amount of 5.00 per cent convertible subordinated unsecured debentures (Debentures) at a price of $1,000 per Debenture (the Offering).

The Offering was completed through a syndicate of underwriters co-led by Peters & Co. Ltd. and FirstEnergy Capital Corp. and including National Bank Financial Inc., Cormark Securities Inc., TD Securities Inc., CIBC World Markets Inc., RBC Capital Markets, GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Scotia Capital Inc., AltaCorp Capital Inc. and BMO Capital Markets (the Underwriters).

Kelt also announced the completion of its private placement offering to certain directors, officers and employees of the Company, along with certain other subscribers, on a non-brokered basis, of an additional $15 million principal amount of Debentures at a price of $1,000 per Debenture.

Kelt was represented by Borden Ladner Gervais LLP with a team led by William Guinan and including Louise Lee, Lloyd McLellan, Ravi Latour and Scott Robson (securities), Lindsay Holmes and Richard Eisenbraun (tax).

Burnet, Duckworth & Palmer LLP represented the Underwriters with a team led by Steven Cohen and including Jessica Brown and Shanlee von Vegesack.


William C. Guinan