Burmis Energy Inc.
TSX : BME

Burmis Energy Inc.

August 04, 2005 09:12 ET

Burmis Energy Inc. Announces $11.1 Million Financing

CALGARY, ALBERTA--(CCNMatthews - Aug. 4, 2005) -

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

Burmis Energy Inc. (TSX:BME) ("Burmis") announced today that it has entered into a bought deal financing agreement with a syndicate of underwriters led by FirstEnergy Capital Corp. and including Acumen Capital Finance Partners Limited, CIBC World Markets Inc. and Westwind Partners Inc. to issue 3.0 million common shares on a private placement basis at a price of $3.70 per share for gross proceeds of $11.1 million. Completion of this transaction is subject to receipt of all necessary regulatory approvals. This transaction is expected to close August 24, 2005.

Proceeds from this offering will be used to expand Burmis' 2005 capital program, primarily in the Company's core area of Pembina, as well as other areas in west central Alberta, and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The common shares have not been nor will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an exemption from registration.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Burmis Energy Inc.
    Scott Dyck
    Chief Financial Officer
    (403) 781-7217
    (403) 261-9028 (FAX)