01:15 PM EST - UTS Energy Corp. : has announced a $275-million equity issue to finance its oilsands development costs. UTS said it has arranged a bought deal covering 41.8 million common shares at $6.10 each and 2.7 million flow-through shares at $7.60 each. The underwriting syndicate, led by RBC Capital Markets, has an overallotment option on 6.7 million additional common shares, which would raise the gross proceeds to $316 million. UTS Energy Corp.
shares T.UTS are trading down 37 cents at $5.94.
