TriStar Oil & Gas Ltd.
TSX : TOG

TriStar Oil & Gas Ltd.

December 17, 2007 11:01 ET

TriStar Oil & Gas Ltd.: Increase in Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - Dec. 17, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

TriStar Oil & Gas Ltd. ("TriStar") (TSX:TOG) is pleased to announce that in response to strong market demand it is increasing the size of its previously announced equity financing by an additional 2,470,000 subscription receipts at $12.15 for additional gross proceeds of $30,010,500. In total, TriStar has agreed to issue 16,875,000 subscription receipts at $12.15 on a bought deal basis, for total gross proceeds of $205,031,250 (the "Offering") pursuant to a financing agreement entered into with an underwriting syndicate led by Macquarie Capital Markets Canada Ltd. and including GMP Securities L.P., BMO Capital Markets, CIBC World Markets Inc., FirstEnergy Capital Corp., Tristone Capital Inc., Scotia Capital Inc., TD Securities Inc. and Westwind Partners Inc. Closing of the Offering is scheduled for January 11, 2008.

Subscription receipts issued pursuant to the private placement will be subject to a hold period from the date of closing of the Offering until the closing of the Arrangement. The Offering is subject to the receipt of all necessary regulatory and stock exchange approvals.

TriStar Oil & Gas Ltd. is a Calgary based company active in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The common shares offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • TriStar Oil & Gas Ltd.
    Brett Herman
    President & Chief Executive Officer
    (403) 268-7800
    or
    TriStar Oil & Gas Ltd.
    Jason Zabinsky
    Vice President, Finance & Chief Financial Officer
    (403) 268-7800