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

To: Goose94 who wrote (18784)	6/29/2016 9:35:01 AM
From: Goose94	Read Replies (1) \| Respond to of 203541

Gear Energy (GXE-T) June 29, '16 is pleased to announce the closing of its previously announced bought deal financing. Pursuant to the financing, Gear has issued and sold through a syndicate of underwriters led by Peters & Co. Limited an aggregate of 28,750,000 common shares of the Company at a price of $0.70 per common share, which includes 3,750,000 common shares issued pursuant to the exercise in full of the over-allotment option, for gross proceeds of $20,125,000. The net proceeds from the Offering will initially be used to repay outstanding bank indebtedness thereby freeing up borrowing capacity which may be used to fund a portion of the Company's ongoing capital program and for working capital purposes. Gear Energy Ltd. is a Canadian exploration and production company with predominantly horizontal oil production in east central Alberta and west central Saskatchewan. The current and ongoing business plan is to continue focusing on being a low cost heavy oil operator, drilling economic wells and acquiring assets on an accretive basis Ingram Gillmore President & CEO 403-538-8463 igillmore@gearenergy.com David Hwang Vice President Finance & CFO 403-538-8437 dhwang@gearenergy.com www.gearenergy.com