Artek Exploration Ltd.
TSX : RTK

March 17, 2011 08:42 ET

Artek Exploration Ltd. Announces Closing of Bought Deal Equity Financing

CALGARY, ALBERTA--(Marketwire - March 17, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Artek Exploration Ltd. ("Artek" or the "Corporation") (TSX:RTK) is pleased to announce the closing of its recently announced bought deal financing of 4,800,000 common shares ("Common Shares") at a price of $2.40 per Common Share and 1,700,000 common shares issued on a flow-through basis ("Flow-Through Common Shares") at a price of $3.00 per Flow-Through Common Share for aggregate gross proceeds of approximately $16.6 million. The financing was led by National Bank Financial Inc. and included Cormark Securities Inc., Peters & Co. Limited, FirstEnergy Capital Corp. and Stifel Nicolaus Canada Inc. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Artek in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. Person absent registration or an applicable exemption from the registration requirements of such Act or laws.

Contact Information

  • Artek Exploration Ltd.
    Darryl Metcalfe
    President & Chief Executive Officer
    (403) 296-4799
    or
    Artek Exploration Ltd.
    Darcy Anderson
    Vice-President Finance & Chief Financial Officer
    (403) 296-4775