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Donnycreek increases private placement to approximately $8 million of flow-through shares


Published Dec 5, 2013
Donnycreek Energy

Donnycreek Energy Inc. reports that due to strong demand, the Company and RBC Capital Markets have increased the size of the recently announced private placement offering from $6,000,000 to $8,040,000 of common shares of the Company to be issued on a "flow-through" basis (the "Flow-Through Shares") at a price of $2.40 per Flow-Through Share (the "Offering").

The gross proceeds of the Flow-Through Shares will be used by the Company to incur eligible Canadian exploration expenses ("Qualifying Expenditures") prior to December 31, 2014 on Donnycreek's properties. The Company will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2013.

Tags: Donnycreek Energy




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