WIN Energy Corporation

October 17, 2006 17:38 ET

WIN Energy Corporation Announces Bought Deal Flow-Through Financing

CALGARY, ALBERTA--(CCNMatthews - Oct. 17, 2006) -

Not for distribution to United States newswire services or for dissemination in the United States.

WIN Energy Corporation ("WIN")(TSX VENTURE:WNR) is pleased to announce that it has entered into a bought deal financing with a syndicate of underwriters led by CIBC World Markets Inc. and Jennings Capital Inc. and including Canaccord Capital Corporation and GMP Securities L.P., to issue by way of private placement 2,825,000 flow-through common shares of WIN at a price of $1.77 per flow-through share for aggregate gross proceeds of approximately $5 million (the "Offering"). The Company has granted the underwriters the option to purchase up to an additional 1,695,000 flow-through common shares at a price of $1.77 per flow-through share, to raise an additional approximately $3 million, exercisable at any time prior to 48 hours before closing. The offering is scheduled to close on or about November 7, 2006 and is subject to normal approvals. Proceeds of the Offering will be used to fund WIN's 2006 and 2007 capital programs.

The flow-through common shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act.

WIN is a Calgary-based corporation focused on exploration for natural gas in the Southern Alberta Foothills. Its common shares commenced trading July 19, 2006 on the TSX Venture Exchange under the trading symbol WNR.

Forward-Looking Statements

Certain information set forth in this document contains forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond WIN Energy's control. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or any of them do so, what benefit, including the amount of proceeds, that WIN Energy will derive therefrom.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • WIN Energy Corporation
    William J. Kiff
    President and CEO
    (403) 265-7787
    WIN Energy Corporation
    Matthew Philipchuk
    Vice President, Corporate Development
    (403) 265-7787
    (403) 265-7767 (FAX)