Strategic Oil & Gas Ltd. announce that in connection with its previously announced equity financing, Strategic will increase the size of the financing to a total of 48,299,545 common shares to raise gross proceeds of $48,202,750.

Strategic and the syndicate of underwriters co-led by Raymond James Ltd. and Macquarie Capital Markets Ltd. and including Dundee Securities Corporation, FirstEnergy Capital Corp., National Bank Financial Inc., Paradigm Capital Inc. and PI Financial Corporation have agreed to increase the size of the bought deal financing ("Public Offering").

Strategic will now issue 12,650,000 common shares ("Common Shares") at a price of $0.95 per Common Share for gross proceeds of $12,017,500 and 15,454,545 flow-through common shares ("Flow-Through Shares") at a price of $1.10 per Flow-Through Share for gross proceeds of $17,000,000 for total gross proceeds of $29,017,500. The Underwriters will have an option to purchase up to an additional 15% of the Common Shares issued under the Public Offering at a price of $0.95 per Common Share to cover over-allotments exercisable in whole or in part at any time until 30 days after the closing.

Tags: Strategic Oil & Gas Ltd.