Waldron Energy Corporation
TSX : WDN

Waldron Energy Corporation

February 01, 2011 14:20 ET

Waldron Announces $5.0 Million Bought Deal Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Waldron Energy Corporation (TSX:WDN)("Waldron" or the "Corporation") announces it has entered into a private placement financing agreement, on a bought-deal basis, with an underwriting syndicate led by National Bank Financial Inc. and including Acumen Capital Partners, Desjardins Securities Inc., Haywood Securities Inc., Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (the "Underwriters"). Under the terms of the agreement, Waldron will issue by way of a private placement 1,334,000 common shares on a flow-through basis ("Flow-Through Shares") at $3.75 per share for gross proceeds of $5,002,500. Waldron will use the proceeds from the sale of the Flow-Through Shares on eligible Canadian Exploration Expenses which will be renounced to subscribers effective on or before December 31, 2011. The private placement is expected to close on or about February 18, 2011 and is subject to approval of the Toronto Stock Exchange, receipt of all necessary regulatory approvals and other customary conditions.

This financing will provide the Corporation with additional capital for drilling in its core areas targeting the Ellerslie, Glauconite and Belly River prospects.

Waldron is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are currently listed on the Toronto Stock Exchange under the trading symbol "WDN". Additional information regarding Waldron is available under the Corporation's profile at www.sedar.com or at the Corporation's website, www.waldronenergy.ca.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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