TRAFINA Energy Ltd.

TRAFINA Energy Ltd.

April 14, 2011 19:20 ET

Trafina Energy Announces Receipt for Prospectus and Financing Closing Date

CALGARY, ALBERTA--(Marketwire - April 14, 2011) -


Trafina Energy Ltd. (TSX VENTURE:TFA.A) ("Trafina" or the "Company") is pleased to announce that it has filed and obtained a receipt for a short form prospectus in connection with a marketed public offering of units ("Units") on a reasonable best efforts agency basis (the "Offering"). Closing of the Offering is expected to occur on April 21, 2011 and is subject to a minimum offering of $5,000,000.

Assuming the minimum offering is received, a minimum of 14,286,000 units and up to a maximum of 25,715,000 units will be issued, at a price of $0.35 per Unit, for gross minimum proceeds of approximately $5,000,000 and maximum proceeds of up to approximately $9,000,000. Each Unit will consist of one Class A common share ("Common Share") and one transferable Common Share purchase warrant ("Warrant") to acquire an additional Common Share at an exercise price of $0.45 for a period of eighteen months from the date of closing.

The Offering is being conducted through a syndicate of agents lead by National Bank Financial Inc. and including Mackie Research Capital Corporation, Wellington West Capital Markets Inc. and Cormark Securities Inc.

About Trafina

Trafina is a junior oil and gas company based in Calgary, Alberta. The Company's main areas of interest are in the McMullen/Twin Lakes and Pembina areas of Alberta and in the Rangeview and Divide areas of southwest Saskatchewan with other operated production in Wetaskiwin, Retlaw and Ronalane in Alberta. Trafina also has non-operated production in Viking/Kinsella, Alberta and minor interests in Carson Creek/Judy Creek, Alberta. Trafina's shares trade on the TSX Venture Exchange under the stock symbol TFA.A.

Forward Looking Statements:This news release contains forward looking statements and forward looking information regarding, among other things, anticipated timing for closing of the Offering and receipt of the required minimum proceeds. The Offering may not close on such date or at all. Readers are cautioned that assumptions used in the preparation of such statements may prove to be incorrect. Forward looking statements involves significant known and unknown risks and uncertainties. Reference is made to Trafina's annual information form, management's discussion and analysis and the short form prospectus dated April 12, 2011 for a description of some of the risks that could affect the Company's future results and could cause results to differ materially from those expressed in the Company's forward looking statements. The forward looking statements contained in this news release are made as at the date hereof and, except as required by applicable securities laws, Trafina does not undertake any obligation to update publicly or otherwise any such statements.

Neither the 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

  • Trafina Energy Ltd.
    Kelly J. Ogle
    President and Chief Executive Officer
    (403) 263-0800
    (403) 263-0811

    Trafina Energy Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890