Caribou Resources Corp.

Caribou Resources Corp.

September 08, 2005 15:19 ET

Caribou Resources Corp. Announces Closing of $18 Million Equity Financing

CALGARY, ALBERTA--(CCNMatthews - Sept. 8, 2005) - Caribou Resources Corp., (TSX VENTURE:CBU), ("Caribou"), is pleased to advise that it has closed the previously announced $18 million equity financing with Dundee Securities Corporation and Acumen Capital Finance Partners Limited ("the Syndicate").

The oversubscribed Offering consisted of the sale of 3,486,559 common shares issued on a flow through basis at a price of $3.05 per share and 3,009,200 units at a price of $2.45 per unit. Each unit consisted of one common share and one-half of one common share purchase warrant with each full warrant entitling the holder thereof to acquire an additional common share at an exercise price of $3.00 at any time prior to September 8, 2006. Gross proceeds of the Offering were $18,006,544.

Following this financing Caribou has 34,775,424 common shares outstanding.

Caribou intends to use the proceeds to reduce debt and to finance its ongoing drilling program over the balance of this year and into the first quarter of 2006.

This news release may contain forward looking statements. Actual results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence actual results are described in documents filed with regulatory authorities.

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

Contact Information

  • Caribou Resources Corp.
    Christina M. Fehr
    Vice Chairman & CEO
    (403) 539-4322
    Caribou Resources Corp.
    Ross Robertson
    President & COO
    (403) 539-4316
    Caribou Resources Corp.
    Suite 1545, 101 - 6th Ave SW
    Calgary, Alberta, T2P 3P4