SeaBird Exploration Limited BVI (SBX) has retained ABG Sundal Collier to advise on and effect an equity issue directed towards professional Norwegian and international investors after the close of Oslo Stock Exchange today. The equity issue will be carried out through a book-building process.
The planned directed issue will amount to a maximum of 3,200,000 new shares, equal to approximately 4% of the existing number of outstanding shares in the company.
The purpose of the placement is to finance the acquisition of 100% of the outstanding shares of Seabed Geophysical AS ('Seabed'), as announced earlier today and working capitalfor further development of Seabed.
Seabed is an Ocean Bottom Swismic ('OBS') company that specializes in OBS services. Seabed's main concept is to deploy geophone sensor nodes into the seabed and acquire high quality multi-component data. The company holds patents and proprietary technology for the seabed geophone nodes. The acquisition will expand SeaBird's product and services portfolio and create opportunities to bring Seabed's technology to the marked in a profitable manner.
For further information, please contact:
Dag Reynolds, CEO, telephone: +47 90 88 37 37