Business
Pine Cliff Energy Ltd. - Private Placement
Pine Cliff Energy Ltd. - Private Placement.
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, July 4 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff")\n(www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce that it\nhas entered into an agreement with a syndicate of agents led by RBC Capital\nMarkets under which the agents have agreed to offer on a private placement,\nreasonable best efforts agency basis, an aggregate of approximately\n$15,000,000 worth of common shares in the capital of Pine Cliff (the "Common\nShares"). The number of Common Shares to be offered, the price per Common\nShare and the aggregate size of the offering will be determined by negotiation\nbetween Pine Cliff and the agents. The offering is expected to close on or\nabout August 3, 2007.\n\n\nPine Cliff anticipates it will use the net proceeds of the offering to\nfund Pine Cliff's exploration, development, acquisitions and farm-in\ncommitments and for general corporate purposes.\n\n\nThe securities offered have not been registered under the U.S. Securities\nAct of 1933, as amended, and may not be offered or sold in the United States\nabsent registration or an applicable exemption from the registration\nrequirements. This press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy nor shall there be any sale of the securities\nin any State in which such offer, solicitation or sale would be unlawful.\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":1670,"tagName":"div"}]