Gibsons Announces Closing of $230 Million Equity Financing and $100 Million Offering of Unsecured Subordinated Convertible Debentures for Total Gross Proceeds of $330 Million

Jun 02, 2016

CALGARY, ALBERTA--(Marketwired - June 2, 2016) -


Gibson Energy Inc. ("Gibsons" or the "Company") (TSX:GEI) is pleased to announce that it has completed its previously announced bought deal offering (the "Offering"). Pursuant to the Offering, Gibsons issued a total of 14,892,500 common shares, which includes the exercise in full by the underwriters of the over-allotment option, at a price of $15.45 per common share, and $100 million of unsecured subordinated convertible debentures for total combined gross proceeds of approximately $330 million. The net proceeds of the Offering will be used to initially repay bank indebtedness, fund the Company's previously announced 2016 and 2017 growth capital program, and the potential expansion thereof, and for general corporate purposes.

The offering was made through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets.

About Gibsons

Gibsons is a Canadian-based midstream energy company with operations in most of the key hydrocarbon-rich basins in North America. For over 60 years, Gibsons has delivered integrated midstream solutions to customers in the oil and gas industry. With headquarters in Calgary, Alberta, the Company's North American operations include the storage, blending, processing, transportation, marketing and distribution of crude oil, natural gas liquids and refined products. The Company also provides oilfield waste and water management services. Gibsons is the second largest industrial propane distribution company operating in Canada under the Canwest Propane and Stittco Energy brands.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information and statements (collectively, "forward-looking statements") including, but not limited to, the anticipated use of the net proceeds of the Offering. These statements relate to future events or Gibsons' future performance. All statements other than statements of historical fact are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Gibsons believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. Gibsons' actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which Gibsons operates, prevailing economic conditions, many of which are beyond the control of Gibsons. The forward-looking statements contained in this press release represent Gibsons' expectations as of the date hereof, and are subject to change after such date. Gibsons disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.

Gibson Energy Inc.
Tammi Price
Vice President, Investor Relations & Corporate Development
(403) 206-4212

Gibson Energy Inc.
Cam Deller
Manager, Investor Relations
(403) 776-3041

Gibsons Announces Closing of $230 Million Equity Financing and $100 Million Offering of Unsecured Subordinated Convertible Debentures for Total Gross Proceeds of $330 Million PDF Version

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