CALGARY, Feb. 2 /CNW/ - Result Energy Inc. ("Result" - TSX Venture:RTE)
is pleased to announce that it has closed its previously announced bought-deal
financing through Acumen Capital Finance Partners Limited ("Acumen"). Result
has raised gross proceeds of $6,640,000 by issuing a total of 5,312,000 common
shares at $1.25 per share. ("the Financing"). Due to strong market demand, the
Financing, as announced on January 17, was expanded from an initial $5 million
to $6.6 million.
A four month hold period from the date of closing applies on the shares
that were issued pursuant to the Financing. After completion of the Financing,
Result has 47,620,638 common shares outstanding.
Proceeds from the Financing will be used to finance ongoing exploration
and development of Result's three core areas in the Peace River Arch region of
Alberta, the Pembina area in central Alberta, south-west Saskatchewan, and for
general corporate purposes.
Result Energy Inc. is a publicly traded Canadian energy company involved
in the exploration and development of oil and gas properties in western
Canada. Result trades on the TSX Venture Exchange under the symbol "RTE".
The TSX Venture Exchange does not accept responsibility for the adequacy
and accuracy of this release.
Investors are cautioned that this news release contains forward looking
information. Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results or events
and cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are
cautioned not to place undue reliance on forward-looking information, as no
assurances can be given as to future results, levels of activity or
achievements.
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