Mission Oil & Gas Inc.
TSX : MSO

Mission Oil & Gas Inc.

November 09, 2005 08:15 ET

Mission Oil & Gas Inc.: Increase in Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2005) - Mission Oil & Gas Inc. ("Mission") (TSX:MSO) -

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

Mission Oil & Gas Inc. ("Mission") (TSX:MSO) is pleased to announce that in response to strong market demand it is increasing the size of its previously announced equity financing by an additional 1,266,000 subscription receipts at $7.90 for additional gross proceeds of $10,001,400. In total, Mission has agreed to issue 12,566,000 subscription receipts at $7.90 for gross proceeds of $99,271,400, and 500,000 flow-through common shares at $10.00 for gross proceeds of $5,000,000, on a bought deal basis, for total gross proceeds of $104,271,400 (the "Offering") pursuant to a financing agreement entered into with an underwriting syndicate co-led by Orion Securities Inc. and CIBC World Markets Inc., and including Tristone Capital Inc., BMO Nesbitt Burns Inc., FirstEnergy Capital Corp. and Haywood Securities Inc. Closing of the Offering is scheduled for November 16, 2005.

The Offering is subject to the receipt of all necessary regulatory, shareholder and stock exchange approvals. Please refer to the news release dated October 26, 2005 for other terms of the Offering.

Mission is a Canadian junior oil and gas company engaged in the exploration, development and production of natural gas and light oil reserves in the provinces of British Columbia, Alberta and Saskatchewan.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The common shares offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Mission Oil & Gas Inc.
    Trent J. Yanko
    President and Chief Operating Officer
    (403) 263-9964
    (403) 263-9965 (FAX)
    www.missionoilgas.com