Paramount Resources Ltd.
TSX : POU

Paramount Resources Ltd.

November 16, 2011 08:55 ET

Paramount Resources Ltd. Completes Previously Announced Equity Financing

CALGARY, ALBERTA--(Marketwire - Nov. 16, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Paramount Resources Ltd. (TSX:POU) ("Paramount") has completed its previously announced public offering of 4,500,000 Class A Common Shares ("Common Shares") at a price of $34.75 per share for gross proceeds of $156,375,000. The Common Shares were sold through a syndicate of underwriters led by BMO Capital Markets.

Paramount is a Canadian oil and natural gas exploration, development and production company with operations focused in Western Canada. Paramount's Common Shares are listed on the Toronto Stock Exchange under the symbol "POU".

The Common Shares issued have not been and will not be registered under the United States Securities Act of 1933, as amended, or any states securities laws and may not be offered, sold or delivered in the United States absent registration or applicable exemption from the registration requirement of such act or any applicable states securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States.

Contact Information

  • Paramount Resources Ltd.
    J.H.T. (Jim) Riddell
    President and Chief Operating Officer
    (403) 290-3600
    (403) 262-7994 (FAX)

    Paramount Resources Ltd.
    B.K. (Bernie) Lee
    Chief Financial Officer
    (403) 290-3600
    (403) 262-7994 (FAX)

    Paramount Resources Ltd.
    4700 Bankers Hall West
    888 3rd Street S.W.
    Calgary, Alberta T2P 5C5