As in Oct 2009 CLL is selling another Flow-Through shares to be available to some lucky investors and institutions on October 22 2010.

Remember these two blocks of 2 million shares cross for their own accounts by RBC and Cannacord few days ago? Now you know.

Simply their cost of the new shares will be 87 cents (40% tax bracket) plus capital losses game of 17% ($1.45 - $1.2). I hope that some posters who support the management on daily basis can get in to this deal.

PS. Brian you are out of the loop.

October 4, 2010

Connacher Announces $22 Million Flow-Through Share Offering

CALGARY – Connacher Oil and Gas Limited ("Connacher" or the "Corporation") announces today that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets under which Connacher will issue 15,200,000 flow-through common shares ("Flow-Through Shares") on a "bought deal" basis for gross proceeds of approximately $22 million ($1.45 per Flow-Through Share). Connacher has granted the underwriters an over-allotment option to purchase up to an additional 2,280,000 Flow-Through Shares on the same terms and conditions, exercisable in whole or in part up to 30 days following closing of the offering, for aggregate gross proceeds of approximately $25 million. The offering is scheduled to close on or about October 22, 2010.