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| Home : Pine Cliff Announces Completion Of Rights Offering And Private Placement |
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Feb 06
2012 |
Pine Cliff Announces Completion Of Rights Offering And Private Placement |
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CALGARY, ALBERTA--(Marketwire - Feb. 6, 2012) - Pine Cliff Energy Ltd. ("Pine Cliff") (www.pinecliffenergy.com) (TSX VENTURE:PNE) is pleased to announce that it has completed its previously announced rights offering. The rights offering was over subscribed and shareholders who requested additional common shares of Pine Cliff (the "Common Shares") pursuant to the additional subscription privilege were issued a limited number of Common Shares on a pro rata basis. Accordingly, a total of 11,536,423 Common Shares, the maximum number permitted under the rights offering, were issued at a subscription price of $0.17 per Common Share for gross proceeds of $1,961,191.91. To the Company's knowledge, Pine Cliff's executive officers and directors who were eligible to participate in the rights offering subscribed for approximately 4,035,747 Common Shares pursuant to the rights offering. |
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| Source:http://www.marketwire.com/mw/release.do?id=1615713&sourceType=3 |
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