Crocotta Energy Inc.
TSX : CTA

Crocotta Energy Inc.

December 16, 2008 17:43 ET

Crocotta Energy Inc. Announces Closing of Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2008) -

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

CROCOTTA ENERGY INC. (TSX:CTA) ("Crocotta") is pleased to announce that it has completed its previously announced bought deal financing of 4 million flow-through shares (including 1 million flow-through shares issued upon the exercise of an underwriters' option) on a private placement basis at a price of $2.25 per share for gross proceeds of $9 million (the "Financing"). GMP Securities L.P. acted as lead underwriter for the Financing, with a syndicate of underwriters that included Cormark Securities Inc., Clarus Securities Inc., Macquarie Capital Markets Canada Ltd., Tristone Capital Inc., Acumen Capital Finance Partners Limited and Wellington West Capital Inc.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Crocotta Energy Inc.
    Rob Zakresky
    President and Chief Executive Officer
    (403) 538-3736
    or
    Crocotta Energy Inc.
    Nolan Chicoine
    Vice President, Finance and Chief Financial Officer
    (403) 538-3738
    or
    Crocotta Energy Inc.
    700, 639 -5th Ave SW
    Calgary, Alberta T2P 0M9