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Lycos Energy Closes C$70 Million Acquisition of Great Provost Area Assets in Alberta

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Lycos Energy (LCX.V) said Thursday it is closing its acquisition of assets in the Greater Provost area of Alberta for C$70 million cash.

To fund the acquisition, Lycos raised C$34.5 million in a bought deal financing of 22.7 million shares at C$1.52 each and expanded its C$55 million credit facility with National Bank up to C$75 million, with an uncommitted accordion feature.

Lycos Shares were last seen up C$0.03 at C$1.50 on the TSX Venture Exchange.

Price: $1.50, Change: $+0.03, Percent Change: +2.04%

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