Wild Stream Exploration Inc.
TSX VENTURE : WSX

February 08, 2010 08:56 ET

Wild Stream Exploration Inc. Announces the Closing of Its Previously Announced Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - Feb. 8, 2010) -

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.

Wild Stream Exploration Inc. ("Wild Stream") (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 Paradigm Capital Inc., FirstEnergy Capital Corp. and GMP Securities L.P. (collectively the "Underwriters"). The Offering consisted of 6,095,000 common shares (including 795,000 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 $4.95 for aggregate gross proceeds of $30,170,250.

The net proceeds of the Offering will be used to fund Wild Stream's previously announced property acquisitions in southwest Saskatchewan, ongoing exploration and development activities and for general corporate purposes. 

GENERAL

Wild Stream trades on the TSX Venture Exchange under the symbol "WSX". Wild Stream currently has approximately 36.9 million Common Shares outstanding, after giving effect to the common shares issued pursuant to the Offering, as well as 7.7 million common share purchase warrants.

WARNING

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.

FORWARD-LOOKING STATEMENTS

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 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 CEO
    (403) 767-1250
    (403) 232-8083 (FAX)
    or
    Wild Stream Exploration Inc.
    Jerry Sapieha, CA
    Vice-President, Finance and CFO
    (403) 767-1265
    (403) 232-8083 (FAX)
    or
    Wild Stream Exploration Inc.
    710, 400-5th Ave SW
    Calgary, AB T2P 0L6