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Donnycreek Energy Inc. has closed a previously announced bought deal offering of 8,000,000 common shares of the Company at a price of $2.10 per Common Share, resulting in gross proceeds of $16,800,000.
The Offering was made through a syndicate of underwriters led by RBC Capital Markets and including Paradigm Capital Inc., Beacon Securities Limited and National Bank Financial Inc. Details of the Offering, including the fees paid to the Underwriters, is as set forth in the prospectus of the Company dated July 16, 2013 and filed on the Company's profile at www.sedar.com.
The net proceeds of the Offering are expected to 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.
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