Symbol: BEN
Exchange: Toronto Stock Exchange
CALGARY, Oct. 26 /CNW/ - Berens Energy Ltd. ("Berens") announced today
that it has closed its previously announced private placement financing of
6,500,000 common shares on a flow-through basis at a price of $1.82 per share
for gross proceeds of $11,830,000. The sold shares are subject to a four-month
hold period that expires February 27, 2007. The underwriting syndicate for the
offering was led by Peters & Co. Limited and included Wellington West Capital
Inc. and Salman Partners Inc.
The net proceeds of the offering will be used to incur Canadian
exploration expenses in the aggregate amount of not less than the total amount
of the gross proceeds raised from the issue of flow-through common shares.
Berens will renounce the expenditures to the purchasers of the flow-through
common shares effective on or before December 31, 2006.
Berens is a publicly traded Canadian energy company involved in the
exploration, development and production of natural gas, natural gas liquids
and crude oil in western Canada.
This information release may contain certain forward-looking information.
Actual future results may differ materially from those contemplated. The
risks, uncertainties and other factors that could influence the actual results
are described in documents filed with regulatory authorities.
%SEDAR: 00020114E
