Blackbird Energy Inc. has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and including Raymond James Ltd., Haywood Securities Inc., TD Securities Inc., Cormark Securities Inc. and Jennings Capital Inc. (collectively the "Underwriters") pursuant to which the Underwriters have agreed to purchase on a "bought deal" private placement basis 86,207,000 special warrants (the "Special Warrants") and 14,706,000 common shares to be issued on a flow-through basis in respect of Canadian Exploration Expenses (the "Flow-Through Shares"), (collectively the "Financings") at a price of $0.29 per Special Warrant and $0.34 per Flow-Through Share for gross proceeds of $30.0 million.

In addition, the Company intends to complete a non-brokered private placement of Special Warrants (the "Non-Brokered Private Placement") of up to 18,813,800 Special Warrants at a price of $0.29 per Special Warrant for gross proceeds of $5.5 million.

Tags: Blackbird Energy