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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (13193)	6/10/2015 8:51:17 AM
From: Goose94	Read Replies (1) \| Respond to of 202401

Tamarack Valley Energy (TVE-V) June 10, '15 is pleased to announce that it has closed the full amount of the over-allotment option on its previously announced bought-deal financing with a syndicate of underwriters co-led by National Bank Financial Inc. and Dundee Securities Ltd., and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Peters & Co. Limited, RBC Dominion Securities Inc., Acumen Capital Finance Partners Limited, AltaCorp Capital Inc. and Paradigm Capital Inc, pursuant to which the Underwriters purchased an additional 1,984,200 Subscription Receipts of the Company at a price of $3.78 per Subscription Receipt and 595,350 common shares of the Company at a price of $3.78 per Offered Share, for additional aggregate gross proceeds of $9,750,699. Closing of the over-allotment option brings the aggregate gross proceeds of the Offering to approximately $83.8 million, which includes the issuance of: (i) 15,212,200 Subscription Receipts at a price of $3.78 per Subscription Receipt; (ii) 4,564,350 Offered Shares at a price of $3.78 per Offered Share; and (iii) 2,186,800 common shares issued on a flow-through basis at a price of $4.15 per CDE Flow-Through Share. The net proceeds of the Subscription Receipts will be used to fund the previously announced acquisition by the Company of certain assets in the Wilson Creek area of Alberta and the net proceeds of the Offered Shares are expected to be used to expand the Company's 2015 capital expenditure program. The net proceeds from the private placement of CDE Flow-Through Shares will be used to incur and renounce Canadian development expenditures pursuant to the Income Tax Act (Canada). The gross proceeds from the sale of the Subscription Receipts are being held in escrow pending the satisfaction of all conditions to the completion of the Acquisition. Closing of the Acquisition is expect to occur on or about June 15, 2015. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Tamarack Valley Energy Ltd. Tamarack is an oil and gas exploration and production company committed to long-term growth and the identification, evaluation and operation of resource plays in the Western Canadian Sedimentary Basin. Tamarack's strategic direction is focused on two key principles - targeting resource plays that provide long-life reserves, and using a rigorous, proven modeling process to carefully manage risk and identify opportunities. The Company has an extensive inventory of low-risk development oil locations in the Pembina, Wilson Creek, Garrington and Lochend Cardium fairway and the Redwater shallow Viking play in Alberta. With a balanced portfolio and an experienced and committed management team, Tamarack intends to continue to deliver on its promise to maximize shareholder return while managing its balance sheet. Brian Schmidt President & CEO Tamarack Valley Energy Ltd. Phone: 403.263.4440 Ron Hozjan VP Finance & CFO Tamarack Valley Energy Ltd. Phone: 403.263.4440 www.tamarackvalley.ca