Business
Pine Cliff Energy Ltd. Announces Successful Completion of Rights Offering
Pine Cliff Energy Ltd. Announces Successful Completion of Rights Offering.
About this update from Pine Cliff Energy Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\nCALGARY, Oct. 26 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or the\n"Company") (www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce\nit has successfully completed the rights offering previously announced on\nAugust 17 and September 24, 2007. A total of 8,312,654 common shares of the\nCompany were subscribed for at a price of $1.10 per common share for total\ngross proceeds of $9,143,919.40. Approximately 85.24% of the rights issued\nunder the offering were exercised.\n\n\nPine Cliff intends to use the net proceeds to fund Pine Cliff's\nexploration, development, acquisitions and farm-in commitments in South\nAmerica and Canada and for general corporate purposes.\n\n\nFurther information relating to Pine Cliff may be found on www.sedar.com\nas well as on Pine Cliff's website at www.pinecliffenergy.com or by contacting\nGeorge F. Fink, President and CEO, Randy M. Jarock, COO, or Garth E. Schultz,\nVice President - Finance and CFO at (403) 269-2289 or by fax at (403)\n265-7488.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n%SEDAR: 00021536E\n\n\n","length":1331,"tagName":"div"}]