Renegade Petroleum Ltd.
TSX VENTURE : RPL

Renegade Petroleum Ltd.

April 13, 2010 13:21 ET

Renegade Petroleum Ltd. Announces Increase to Bought Deal Subscription Receipt Financing

CALGARY, ALBERTA--(Marketwire - April 13, 2010) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that Renegade and the underwriters of the $25 million bought deal subscription receipt financing detailed in its press release issued earlier this morning, co-led by GMP Securities L.P. and Genuity Capital Markets and including Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Paradigm Capital Inc., FirstEnergy Capital Corp., and Peters & Co. Limited, have agreed to increase the size of the bought deal financing to 11,430,000 subscription receipts for aggregate gross proceeds of approximately $40 million. In all other respects the terms of the financing and use of proceeds will remain as previously disclosed in the earlier press release.

CORPORATE INFORMATION

Renegade's common shares trade on the TSX Venture Exchange under the symbol RPL. Renegade currently has approximately 32.3 million shares outstanding. The Company's presentation can be viewed on its website at www.renegadepetroleum.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Renegade Petroleum Ltd.
    Michael Erickson
    President & CEO
    (403) 355-8922
    or
    Renegade Petroleum Ltd.
    Alex Wylie
    Vice-President, Finance & CFO
    (403) 410-3376