/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./
CALGARY, Feb. 18 /CNW/ - Breaker Energy Ltd. ("Breaker" or "Company")
(TSX: WAV) is pleased to announce that it has completed its previously
announced bought deal financing of 4,660,000 Class A Shares ("Class A Shares")
at an issue price of $3.22 each. The underwriting syndicate elected to
exercise its over-allotment option in part to increase the offering by 342,700
Class A Shares, bringing the total offering to 5,002,700 Class A Shares and
aggregate gross proceeds of $16,108,694.
The underwriting syndicate was led by CIBC World Markets Inc. and
included FirstEnergy Capital Corp., Wellington West Capital Markets Inc., BMO
Capital Markets, Scotia Capital Inc., Dundee Securities Corporation, Canaccord
Capital Corporation, and Tristone Capital Inc.
Proceeds will be applied to reduce indebtedness under the Company's
credit facility, which will be redrawn from time to time to fund Breaker's
2009 capital expenditure program, including ongoing horizontal multi-frac
drilling at Fireweed, Provost and Irricana.
Breaker Energy Ltd. is a junior oil and gas company focused on creating
shareholder value by growing per share production and reserves through
acquisitions and a focused exploration, development and exploitation plan.
Breaker Energy Ltd. now has 46,030,290 Class A Shares and 3,852,475
options outstanding, and trades on the TSX under the symbol WAV.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Breaker within the United
States. The securities of Breaker have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "1933 Act"),
or any state securities laws. Accordingly, the shares may not be offered or
sold in the United States or to U.S. persons (as such terms are defined in
Regulation S under the 1933 Act) unless registered under 1933 Act and
applicable state securities laws or an exemption from such registration is
available.
The TSX does not accept responsibility for the adequacy or accuracy of
this release.
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