Trilogy Energy Trust
TSX : TET.UN

Trilogy Energy Trust

October 15, 2009 16:30 ET

Trilogy Energy Trust-Announces Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Trilogy Energy Trust (the "Trust") (TSX:TET.UN) has today entered into an agreement with a syndicate of underwriters led by BMO Capital Markets under which the underwriters have agreed to buy, on a bought deal basis, 10,000,000 trust units from the Trust at a price of $8.65 per trust unit, representing gross proceeds of $86,500,000. The Trust has granted the underwriters an option, exercisable up to 30 days following the closing of the offering, to purchase up to an additional 1,500,000 trust units to cover over-allotments, if any. The net proceeds of the offering will be used to reduce outstanding indebtedness, for ongoing capital expenditures and general corporate purposes. Closing is expected to occur on November 4, 2009. The closing is subject to the receipt of all necessary regulatory and stock exchange approvals.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About the Trust

Trilogy is a petroleum and natural gas-focused Canadian energy trust that actively acquires, develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's Trust Units are listed on the Toronto Stock Exchange under the symbol "TET.UN".

Contact Information

  • Trilogy Energy Trust
    J.H.T. (Jim) Riddell
    President and Chief Executive Officer
    (403) 290-2900
    or
    Trilogy Energy Trust
    M.G. (Mike) Kohut
    Chief Financial Officer
    (403) 290-2900
    or
    Trilogy Energy Trust
    J. B. (John) Williams
    Chief Operating Officer
    (403) 290-2900
    or
    Trilogy Energy Trust c/o Trilogy Energy Ltd.
    #1400, 332 - 6th Avenue S.W.
    Calgary, Alberta T2P 0B2
    (403) 290-2900
    (403) 263-8915 (FAX)
    Website: www.trilogyenergy.com