Contango Announces Private Equity Capital Raise
HOUSTON, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company(NYSE American: MCF) (Contango or the Company) today announced the execution of an agreement with a select group of institutional and accredited investors to sell approximately 14.2 million shares of common stock in a private placement.
- HOUSTON, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company(NYSE American: MCF) (Contango or the Company) today announced the execution of an agreement with a select group of institutional and accredited investors to sell approximately 14.2 million shares of common stock in a private placement.
- The Company expects to receive gross proceeds from the equity capital raise of approximately$22.0 million, which it intends to use to fund the purchase price of the Companys concurrently-announced acquisition of assets in the Big Horn, Permian, and Powder River Basins from an undisclosed seller, and general corporate purposes.
- Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Contangos control.
- Contango does not assume any obligation to update forward-looking statements should circumstances or managements estimates or opinions change, except as required by law.