NuLoch Resources Inc.

NuLoch Resources Inc.

June 09, 2006 08:25 ET

NuLoch Announces $3.5 Million Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - June 9, 2006) -

Not for distribution to United States newswire services or dissemination in the United States.

NuLoch Resources Inc. (TSX VENTURE:NLR.A)(TSX VENTURE:NLR.B)(the Company) announces it has entered into an agreement underwritten by GMP Securities LP (the Underwriter) to issue, on a bought deal private placement basis, 1,892,000 Class A flow-through common shares at a price of $1.85 per share for gross proceeds of $3.5 million. The Company has agreed to grant the Underwriter an option (the Option) to purchase an additional 270,500 Class A flow-through common shares at $1.85 per share to cover over-allotments.

Completion of this transaction is subject to receipt of all necessary regulatory approvals and is expected to close on or about June 29, 2006. The flow-through shares issued will be subject to a four month hold from the date of closing.

Net proceeds from this offering will be used to finance NuLoch's capital program.

Upon completion of this financing and excluding any shares that may be issued pursuant to the Underwriter's Option, NuLoch will have approximately 12,654,695 Class A common shares and 652,500 Class B common shares issued and outstanding.

Forward-Looking Statements

Certain information in this document contains forward-looking statements in respect of events that are subject to numerous risks and uncertainties. No assurance can be given that events anticipated by the forward-looking statements will occur or as to what benefit the Company may derive therefrom.

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

Contact Information

  • NuLoch Resources Inc.
    James N. McIndoe
    President and CEO
    (403) 920-0455
    (403) 920-0457 (FAX)
    NuLoch Resources Inc.
    2200, 444 - 5th Avenue SW
    Calgary, Alberta T2P 2T8