Pacific Rubiales Buys CGX Energy Majority Stake

Law360, New York (April 29, 2013, 1:03 PM EDT) -- Canadian oil and gas company Pacific Rubiales Energy Corp. has closed a CA$35 million ($34.5 million) private placement financing with CGX Energy Inc. to gain a controlling majority interest in the exploration and production company, Pacific Rubiales said Monday.

Toronto-based Pacific Rubiales subscribed for 350 million units of CGX for 10 Canadian cents each. The units are worth one common share of CGX and a share purchase warrant with an exercise price of 17 cents, Pacific Rubiales said.

Pacific Rubiales now owns 63 percent of fellow...
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