TriOil Resources Ltd. has closed its previously announced offering of 10,000,000 class A common shares of TriOil at a price of $3.55 per Share, which includes the 1,056,450 Shares issued pursuant to the exercise in full of the over-allotment option granted to the underwriters, for aggregate gross proceeds of $35,500,000 through a syndicate of underwriters led by GMP Securities L.P., and including, Canaccord Genuity Corp., Dundee Securities Ltd., Haywood Securities Inc. and AltaCorp Capital Inc.

The net proceeds of the Offering will be used to fund the Company's capital expenditure program, which is expected to include the expansion and acceleration of the Company's Cardium light oil drilling program at Lochend, Alberta and the emerging Dunvegan light oil resource play at Kaybob, Alberta, and for general corporate purposes.

Tags: TriOil Resources Ltd.