Skope Energy Inc.

Skope Energy Inc.

December 15, 2010 15:06 ET

Skope Energy Inc. Announces Pricing of Initial Public Offering and Conversion of Previously Issued Special Warrants

CALGARY, ALBERTA--(Marketwire - Dec. 15, 2010) -


Skope Energy Inc. ("Skope") is pleased to announce that it has entered into an agency agreement for its initial public offering (the "Offering") of up to 150,000 common shares ("Common Shares") at a price of $10.00 per share. The Offering is subject to a minimum aggregate number of 20,000 Common Shares and a maximum aggregate number of 150,000 Common Shares. If the maximum Offering is achieved, the Offering will generate gross proceeds of $1.5 million. Closing is scheduled for December 21, 2010, subject to customary closing conditions.

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

Skope is also pleased to announce the conversion of 5,050,744 series A special warrants ("Series A Special Warrants") and 2,500,000 series B special warrants ("Series B Special Warrants", together with the Series A Special Warrants, the "Special Warrants") previously issued at a price of $10.00 per Special Warrant pursuant to a brokered private placement completed on September 28, 2010. If not converted prior to 4:30 p.m. (Calgary time) on December 15, 2010, each Special Warrant will be deemed to have been converted immediately prior to such time: (i) in the case of a Series A Special Warrant, for one (1) Common Share; and (ii) in the case of a Series B Special Warrant, for one (1) non-voting share ("Non-Voting Share") of Skope.

Skope also announces that it has obtained a receipt from the securities regulatory authorities in each of the provinces of Canada for its final prospectus for the Offering and qualifying the distribution of the Common Shares and Non-Voting Shares issuable upon the automatic exchange of the Special Warrants. A copy of the final prospectus which contains important information relating to the Common Shares and Non-Voting Shares will be available on the SEDAR website at under Skope's profile.

Skope has also received conditional approval for the listing of its Common Shares on the Toronto Stock Exchange under the symbol "SKL". Listing is subject to Skope fulfilling all of the requirements of the Toronto Stock Exchange, including distribution of the Common Shares to a minimum number of public shareholders.

The securities offered 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 available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 initial public offering and the conversion of the Special Warrants, their completion, receipt of necessary approvals and the listing of the Common Shares on the Toronto Stock Exchange. 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.

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