Bonterra Energy Corp.

Bonterra Energy Corp.

July 02, 2013 08:56 ET

Bonterra Energy Corp. Announces Exercise of Over-Allotment Option and Completion of $27.6 Million Bought Deal Financing

CALGARY, ALBERTA--(Marketwired - July 2, 2013) -


Bonterra Energy Corp. (Bonterra) ( (TSX:BNE) announces that it has closed its recently announced bought deal financing of 553,725 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 72,225 Common Shares, at $49.85 per Common Share for aggregate gross proceeds of approximately $27.6 million (the "Financing"). The syndicate of underwriters was led by FirstEnergy Capital Corp. and included AltaCorp Capital Inc., CIBC World Markets Inc., Clarus Securities Inc., Scotia Capital Inc., TD Securities Inc., Paradigm Capital Inc., Haywood Securities Inc. and National Bank Financial Inc.

The net proceeds of the Financing are expected to be used to temporarily reduce indebtedness under the Corporation's credit facilities, which facilities will be subsequently redrawn and applied as needed to continue the development and exploitation of Bonterra's Cardium properties and for general corporate purposes.

Bonterra Energy Corp. is a conventional oil and gas corporation with operations in Alberta, Saskatchewan and British Columbia. The Common Shares are listed on The Toronto Stock Exchange under the symbol "BNE".

Forward-Looking Information

This press release contains certain statements or disclosures relating to Bonterra that are based on the expectations of Bonterra as well as assumptions made by and information currently available to Bonterra which may constitute forward-looking information under applicable securities laws. In particular, this press release contains forward-looking information related to the anticipated use of net proceeds. Such forward looking information involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond Bonterra's control. Many factors could cause the use of net proceeds of the Financing by Bonterra to be materially different from the anticipated use expressed or implied by such forward looking information. Bonterra's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at describe the risks, material assumptions and other factors that could influence actual results of Bonterra and accordingly the use of such net proceeds, which are incorporated herein by reference. Bonterra disclaims any intention or obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. This news release is not an offer for sale within the United States of any Common Shares or other securities of Bonterra. Any offering of securities of Bonterra will not be registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration under U.S. securities laws or an applicable exemption from registration under such laws. These securities may not be sold in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

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