Triton Energy Corp.
TSX VENTURE : TEZ

Triton Energy Corp.

March 16, 2010 08:08 ET

Triton Announces $7.5 Million Bought Deal Private Placement Financing

CALGARY, ALBERTA--(Marketwire - March 16, 2010) -

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES OF AMERICA.

Triton Energy Corp. ("Triton" or the "Corporation") (TSX VENTURE:TEZ) announces it has entered into a private placement financing agreement, on a bought-deal basis, with an underwriting syndicate led by National Bank Financial Inc. and including FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Desjardins Securities Inc. and Raymond James Ltd (the "Underwriters"). Under the terms of the agreement, Triton will issue by way of a private placement 34,100,000 common shares on a flow-through basis at $0.22 per share for gross proceeds of $7.5 million.

The private placement is expected to close on or about March 31, 2010 and is subject to approval of the TSX Venture Exchange, receipt of all necessary regulatory approvals and other customary conditions. Gross proceeds from the private placement will be used, in part, to finance Triton's capital expenditures program for this year and next. The Corporation expects to release its 2010 capital expenditure program by the end of March. Eligible expenses will be renounced to subscribers of the flow-through shares effective on or before December 31, 2010.

Triton is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TEZ".

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Neither the 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.

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