ARTEK EXPLORATION LTD. ANNOUNCES $8.0 MILLION BOUGHT DEAL PRIVATE PLACEMENT FINANCING
November 30, 2011
Calgary, Alberta
Artek Exploration Ltd. ("Artek" or the "Corporation") (RTK – TSX) is pleased to announce that it has entered into a private placement financing agreement, on a bought-deal basis, with a syndicate of underwriters led by National Bank Financial Inc. and including Cormark Securities Inc., FirstEnergy Capital Corp., Stifel Nicolaus Canada Inc. and Peters & Co. Limited pursuant to which the underwriters have agreed to purchase, 2,858,000 common shares on a flow-through basis ("Flow-Through Common Shares") at a price of $2.80 per Flow-Through Common Share for aggregate gross proceeds of approximately $8.0 million.
Proceeds of the offering will be used to incur eligible Canadian Exploration Expenses that will be renounced to subscribers effective on or before December 31, 2011.
The private placement is expected to close on or about December 15, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.
FOR FURTHER INFORMATION PLEASE CONTACT:
Darryl Metcalfe President and Chief Executive Officer (403) 296-4799
Darcy Anderson Vice President Finance and Chief Financial Officer (403) 296-4775
It's all happened before and it will all happen again. Might as well profit from it.
