Defiant Resources Corporation
TSX : DFR

Defiant Resources Corporation

December 19, 2006 16:14 ET

Defiant Resources Corporation Announces Closing of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Dec. 19, 2006) -

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

Defiant Resources Corporation (TSX:DFR) ("Defiant" or the "Company") today announced that it has closed its previously announced private placement financing for a total of 873,100 flow-through common shares issued at $3.60 per flow-through common share for total gross proceeds of approximately $3.1 million. The financing was completed pursuant to certain exemptions from prospectus requirements and included 139,300 flow-through common shares exercised pursuant to the underwriters' option. Insiders of the Company and certain associates of Insiders participated in the financing in the amount of approximately $500,000.

The financing was led by Clarus Securities Inc., and included Dundee Securities Corporation and Raymond James Ltd. Proceeds of the offering will be used to fund a portion of the Company's 2007 capital program.

Forward Looking Statements - Certain information regarding Defiant Resources Corporation set forth in this document, including management's assessment of Defiant Resources Corporation's future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Defiant Resources Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Defiant Resources Corporation's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Defiant Resources Corporation will derive therefrom.

Contact Information

  • Defiant Resources Corporation
    Rick J. Ironside
    President & Chief Executive Officer
    (403) 218-4104
    or
    Defiant Resources Corporation
    Rob Solinger
    Vice President, Finance & Chief Financial Officer
    (403) 218-4106