Bronco Energy Ltd.

Bronco Energy Ltd.

November 16, 2005 14:22 ET

Bronco Energy Ltd. Announces Final Closing Under Prospectus Offering

CALGARY, ALBERTA--(CCNMatthews - Nov. 16, 2005) - Bronco Energy Ltd. (TSX VENTURE:BCF) ("Bronco") is pleased to announce that it has completed its final closing, with gross proceeds to Bronco of $1,421,070. A total of 1,671,800 common shares of the Corporation at a price of $0.75 per common share and 185,800 flow-through common shares at a price of $0.90 per flow-through common share were issued under a prospectus dated October 27, 2005 (the "Prospectus"). The Corporation is currently listed as a Tier 2 Oil and Gas Issuer on the TSX Venture Exchange ("TSX-V") under the trading symbol "BCF".

On November 4, the Corporation completed its initial public offering under the Prospectus. The Corporation is pleased to announce that, in connection with today's closing, the maximum offering under the Prospectus was fully subscribed, including the exercise of the over-allotment option.

Blackmont Capital Inc. acted as lead agent on the IPO and this subsequent closing.

As a result of this closing, Bronco now has 11,198,167 common shares issued and outstanding (1,205,102 of which are subject to escrow restrictions), 1,290,654 common shares issuable upon the exercise of previously granted stock options and 792,222 common shares issuable upon the exercise of agent's options granted to Blackmont Capital Inc.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bronco Energy Ltd.
    Brian Alford
    President and Chief Executive Officer
    (403) 699-8383
    Bronco Energy Ltd.
    David Johnson
    Chief Financial Office
    (403) 699-8383
    (403) 693-0038 (FAX)