October 17, 2011
Colombias Pacific Rubiales has agreed to pay $41m for 19% of Toronto-
Colombia’s Pacific Rubiales has agreed to pay $41m for 19% of Toronto-listed CGX, which holds rights to offshore and onshore fields in Guyana. The sale comprises 58.7m common shares of CGX at a price of $0.70 each. The deal is contingent on CGX completing an $80m bought deal financing with GMP Securities, Canaccord Genuity, Macquarie, Jennings Capital and Toll Cross, done at the same $0.70 price.