Wild Stream Exploration Inc.

October 12, 2010 09:06 ET

Wild Stream Exploration Inc. Announces the Closing of Its Bought Deal Financing and Increased Credit Facility

CALGARY, ALBERTA--(Marketwire - Oct. 12, 2010) -


Wild Stream Exploration Inc. ("Wild Stream" or the "Company") (TSX VENTURE:WSX) is pleased to announce it has closed its previously announced bought deal financing (the "Offering"), through a syndicate of underwriters led by National Bank Financial Inc. and including Peters & Co. Limited, Paradigm Capital Inc., FirstEnergy Capital Corp. and GMP Securities L.P. (collectively the "Underwriters"). The Offering consisted of 5,170,000 common shares (including 470,000 common shares that were issued pursuant to the exercise of the Underwriters' over-allotment option, which was exercised in full) issued at a price of $6.45 for aggregate gross proceeds of $33.3 million.

The net proceeds of the Offering will be used to increase Wild Stream's 2010/11 capital exploration and development program and for general corporate purposes. 

Wild Stream also announces that its lender has increased the Company's credit facility to $70 million from $50 million. The credit facility is subject to a review on or before January 31, 2011, at the sole discretion of the lender. As of October 8, 2010, Wild Stream had approximately $10 million of bank debt drawn.


The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States absent registration or applicable exemption from those registration requirements. 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 the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


This press release contains forward-looking statements. More particularly, this press release contains statements concerning the use of proceeds of the Offering. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Wild Stream, including expectations and assumptions concerning the closing of the previously announced acquisitions, the success of future drilling and development activities, the performance of existing wells, the performance of new wells and prevailing commodity prices. Although Wild Stream believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forwardlooking statements because Wild Stream can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditions to closing the transactions, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Certain of these risks are set out in more detail in Wild Stream's Annual Information Form which has been filed on SEDAR and can be accessed at www.sedar.com.

The forward-looking statements contained in this document are made as of the date hereof and Wild Stream undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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

  • Wild Stream Exploration Inc.
    Neil Roszell, P.Eng.
    President and Chief Executive Officer
    (403) 767-1250
    (403) 232-8083 (FAX)
    Wild Stream Exploration Inc.
    Jerry Sapieha, CA
    Vice-President, Finance and CFO
    (403) 767-1265
    (403) 232-8083 (FAX)