Defiant Resources Corporation
TSX : DFR

Defiant Resources Corporation

October 13, 2005 13:13 ET

Defiant Resources Corporation Announces Completion of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Oct. 13, 2005) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

Defiant Resources Corporation (TSX:DFR) ("Defiant Resources Corporation" or the "Company") today announced that it has closed its previously announced private placement of 2,298,851 common shares at $4.35 per share and 892,851 common shares to be issued on a flow-through basis at $5.60 per share for total gross proceeds of approximately $15,000,000 pursuant to certain exemptions from prospectus requirements. The financing was co-led by Dundee Securities Corporation and Clarus Securities Inc. and included Raymond James Ltd., MGI Securities Inc., CIBC World Markets Inc. and Westwind Partners Inc.

Proceeds of the offering will be used to fund the Company's expanded 2005 and 2006 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
    David J. Evans
    Chairman of the Board & C.E.O.
    (403) 218-4101
    or
    Defiant Resources Corporation
    Rick J. Ironside
    President & COO
    (403) 218-4104
    or
    Defiant Resources Corporation
    Timothy V. Dunne
    V.P., Finance & C.F.O.
    (403) 218-4111