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Donnycreek Energy Inc Announces Bought Deal Equity Financing of $16.8 Million


Wednesday, 3 Jul 2013 05:14pm EDT 

Donnycreek Energy Inc announced that it has engaged a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets in connection with a bought deal offering (the "Offering") of 8,000,000 common shares of the Company ("Common Shares") at a price of $2.10 per Common Share (the "Offering Price"), resulting in gross proceeds of $16,800,000. The net proceeds of the Offering will be used to advance the drilling program at the Company's Kakwa and Wapiti properties, to fund future land acquisitions, if any, and for general corporate purposes. The Common Shares shall be offered publicly in all provinces of Canada other than Quebec by way of short form prospectus and pursuant to exemptions from registration requirements in the United States under Rule 144A or in such other manner as to not require registration under the U.S. Securities Act of 1933, as amended. It is currently anticipated that the closing of the Offering will occur on or about July 23, 2013. The Offering is subject to certain customary conditions, including but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange. 

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