Questfire Energy Corp.
TSX VENTURE : Q.A
TSX VENTURE : Q.B

Questfire Energy Corp.

June 29, 2012 09:00 ET

Questfire Energy Corp. Announces Closing of Convertible Debenture Offering

CALGARY, ALBERTA--(Marketwire - June 29, 2012) -

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

Questfire Energy Corp. ("Questfire" or the "Corporation") (TSX VENTURE:Q.A) (TSX VENTURE:Q.B) is pleased to announce that on June 28, 2012 it closed its previously announced private placement to raise gross proceeds of $1,485,000.

The Corporation issued 297 units pursuant to the private placement, with each unit being comprised of one $5,000 par value convertible unsecured senior debenture (each a "Debenture") and 5,000 common share purchase warrants (the "Warrants"). The principal amount of the Debentures is convertible, in whole or in part, into Class A Shares ("Common Shares") at the option of the holder at any time prior to the close of business on June 30, 2014 at a conversion price of $0.50 per Common Share. Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.75 until June 30, 2014. The Debentures and Warrants may not be traded until October 29, 2012, except in accordance with applicable securities laws.

Forward-Looking statements: This document contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Questfire Energy Corp.
    Mr. Richard Dahl
    President & Chief Executive Officer
    403-263-6691
    403-263-6683 (FAX)

    Questfire Energy Corp.
    Mr. Ronald Williams
    Vice President, Finance & Chief Financial Officer
    403-263-6658
    403-263-6683 (FAX)