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or Name

Angle Energy Inc
Symbol C : NGL
Shares Issued 72,837,831
Close 2012-02-01 C$ 5.60
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Angle closes $44.5-million bought-deal financing

2012-02-02 10:14 ET - News Release

Mr. Gregg Fischbuch reports


Angle Energy Inc. has closed its recently announced bought-deal financing of seven million common shares at $6.35 per common share for aggregate gross proceeds of approximately $44.5-million. The syndicate of underwriters was led by FirstEnergy Capital Corp., and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Paradigm Capital Inc., Cormark Securities Inc., AltaCorp Capital Inc. and Dundee Securities Ltd.

In addition, the underwriters have been granted an underwriters' option, exercisable for a period of 30 days following the closing of the offering, to purchase up to 1.05 million additional common shares at a price of $6.35 per common share. If the underwriters' option is fully exercised, gross proceeds from the offering will be approximately $51.1-million.

The net proceeds of the offering will be used to temporarily reduce indebtedness under the company's credit facility, which may be subsequently redrawn and applied as needed to finance the company's 2012 capital expenditure program to accelerate oil-focused drilling and for general corporate purposes.

We seek Safe Harbor.

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