Donnycreek Energy Inc. reports that due to the oversubscription of its previously announced private placement, the Company is increasing the size of its proposed private placement of a combination of: (i) "flow-through" common shares of the Company (FT Shares) within the meaning of the Income Tax Act (Canada) at a price of $0.85 per FT Share; and (ii) ten percent (10%) redeemable, convertible, unsecured debentures of the Company.

The Company will now issue up to $2,500,000 of FT Shares and up to $2,500,000 principal amount of Convertible Debentures for aggregate gross proceeds of up to $5,000,000, subject to regulatory approval.

Tags: Donnycreek Energy