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CALGARY, June 2 /CNW/ - Breaker Energy Ltd. ("Breaker" or "Company") (TSX: WAV) is pleased to announce that it has completed its previously announced bought deal financing of 5,100,000 Class A Shares ("Class A Shares") at an issue price of $4.60 each. The underwriting syndicate elected to exercise its over-allotment option to increase the offering by 765,000 Class A Shares, bringing the total offering to 5,865,000 Class A Shares and aggregate gross proceeds of $26,979,000.
The underwriting syndicate was co-led by FirstEnergy Capital Corp. and CIBC World Markets Inc., and included Wellington West Capital Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Dundee Securities Corporation, Canaccord Capital Corporation, and Tristone Capital Inc.
Proceeds from the sale of the Class A Shares will be used to fund Breaker's on-going capital expenditure program with a focus on Alberta oil projects to capitalize on recent drilling incentives introduced by the Alberta government, and for general corporate purposes.
Breaker Energy Ltd. is a junior oil and gas company focused on creating shareholder value by growing per share production and reserves through acquisitions and a focused exploration, development and exploitation plan.
Breaker Energy Ltd. now has 51,895,290 Class A Shares and 3,962,098 options outstanding, and trades on the TSX under the symbol WAV.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Breaker within the United States. The securities of Breaker have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under 1933 Act and applicable state securities laws or an exemption from such registration is available.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
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