On June 24, 2002, Canadian 88 Energy Corp. completed a secondary offering of the 19 per cent interest in Canadian 88 held by Duke Energy Hydrocarbons, LLC and its affiliate (collectively, Duke). Under the offering, Duke sold 25,792,700 common shares of Canadian 88 at $2.80 per share for gross proceeds of $72,219,560. The common shares were offered to purchasers in Canada by CIBC World Markets Inc. and TD Securities Inc.
Bennett Jones LLP represented Canadian 88, with a team including Robert Lehodey, Brad Markel and Mark Powell. Grant Zawalsky and Stephen Chetner of Burnet, Duckworth & Palmer LLP, represented Duke. Brock Gibson and Scott Cochlan of Blake, Cassels & Graydon LLP acted for the underwriters.