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Calgary, Alberta – September 14, 2023 – Lycos Energy Inc. (“Lycos” or the “Company“) (TSXV: LCX) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. to increase the size of its previously announced bought-deal financing (the “Offering”). Lycos will now issue 8,574,000 common shares (the “Common Shares”) at a price of $3.55 per Common Share to raise aggregate gross proceeds of $30,437,700 pursuant to the Offering.
The underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Offering at a price of $3.55 per Common Share to cover over allotments exercisable in whole or in part at any time until 30 days after the closing of the Offering.
There are 40,404,140 Lycos Shares issued and outstanding as of the date hereof. Following the completion of the Acquisition and the upsized Offering (prior to giving effect to the over-allotment), there will be 51,795,041 Lycos Shares issued and outstanding.
In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated September 13, 2023.
For further information, please contact:
President and Chief Executive Officer T: (403) 616-3327
Vice President, Finance and Chief Financial Officer T: (403) 542-3183
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer of the securities for sale in the United States. The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.