Coelacanth Energy Upsizes Bought Deal Financing to C$80 Million

Coelacanth Energy Inc. has increased the size of its previously announced bought deal financing from C$60 million to C$80 million due to robust investor demand. The upsized offering consists of 97,560,980 common shares priced at C$0.82 per share. The financing is co-led by Haywood Securities Inc. and Roth Canada, Inc. acting as joint bookrunners, and the company confirmed the offering is no longer subject to an over-allotment option. Proceeds from the capital raise are intended for general corporate purposes, including exploration and development activities. While the increased financing provides greater capital certainty and strengthens the balance sheet, the issuance of additional shares will result in further equity dilution for existing shareholders.