Skope Energy Inc.
TSX : SKL

Skope Energy Inc.

December 21, 2010 07:43 ET

Skope Energy Inc. Announces Closing of Initial Public Offering

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2010) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Skope Energy Inc. (TSX:SKL) ("Skope") is pleased to announce that it has closed its initial public offering (the "Offering") of up to 150,000 common shares ("Common Shares") at a price of $10.00 per share. The maximum aggregate number of 150,000 Common Shares were sold in the Offering for gross proceeds totalling $1.5 million.

The syndicate for the Offering was led by GMP Securities L.P. and included CIBC World Markets Inc. and Wellington West Capital Markets Inc.

The net proceeds from the Offering will be used to partially repay outstanding indebtedness under Skope's credit facility.

Skope's Common Shares are listed on the Toronto Stock Exchange under the symbol "SKL".

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws.

About Skope Energy Inc.

Skope is in the business of oil and natural gas exploration, development and production in Western Canada with a focus on shallow natural gas. Skope was recently formed to acquire an 80% working interest in a package of producing shallow gas assets, located in southeast Alberta and southwest Saskatchewan.

Forward-Looking Statements

This news release contains forward-looking information that involves known and unknown risks and uncertainties, most of which are beyond the control of Skope, including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in Skope's final prospectus. Forward-looking information in this press release includes, but is not limited to, information concerning the proposed use of proceeds from the initial public offering. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information. Accordingly, prospective investors should not place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Skope does not assume any obligation to update or revise them to reflect new events or circumstances.

Contact Information