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CALGARY, ALBERTA--(Marketwire - Aug. 24, 2011) - Pinecrest Energy Inc. ("Pinecrest") (TSX VENTURE:PRY) is pleased to announce that it has completed its previously announced bought deal financing (the "Offering") for gross proceeds of $60 million. Pursuant to the Offering, Pinecrest, through a syndicate of underwriters led by Canaccord Genuity Corp. and including Cormark Securities Inc., GMP Securities L.P., Peters & Co. Limited, Paradigm Capital Inc., and Scotia Capital Inc., issued 25,000,000 common shares at a price of $2.40 per common share. |
