Argent Energy Trust announces closing of the over-allotment option

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

CALGARY, Nov. 29, 2013 /CNW/ - Argent Energy Trust ("Argent" or the "Trust") (TSX: AET.UN) is pleased to announce that the underwriters, in connection with the Trust's previously announced $60,000,000 bought deal financing of 6.50% convertible unsecured subordinated debentures due December 31, 2018 (the "Debentures"), which closed on October 31, 2013 (the "Offering"), have partially exercised their over-allotment option. Accordingly, an additional 3,000 Debentures have been issued today at a price of $1,000 per Debenture for aggregate gross proceeds of $3,000,000. The net proceeds will be used to reduce outstanding indebtedness under the Trust's credit facility and for general corporate purposes.

The Offering was completed through a syndicate of underwriters co-led by Scotiabank, CIBC and RBC Capital Markets, and included TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., and FirstEnergy Capital Corp.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Argent Energy Trust in any jurisdiction.

About Argent Energy Trust

Argent is a mutual fund trust under the Income Tax Act (Canada).  Argent's objective is to create stable, consistent returns for investors through the acquisition and development of oil and natural gas reserves and production with low risk exploitation potential, located primarily in the United States.  Material information pertaining to Argent Energy Trust may be found on www.sedar.com or www.argentenergytrust.com.

The trust units of the Trust, the Trust's previously issued 6.00% convertible unsecured subordinated debentures, and the Debentures are traded on the Toronto Stock Exchange under the symbols AET.UN, AET.DB, and AET.DB.A respectively.

SOURCE: Argent Energy Trust

For further information:

concerning this press release, please contact: 

Eric Tremblay
Executive Chairman
Argent Energy Trust
(403) 770-4817

Brian Prokop
Co-Chief Executive Officer & President
Argent Energy Trust
(403) 770-4807

Sean Bovingdon
Chief Financial Officer
Argent Energy Trust
(403) 770-4803

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Argent Energy Trust

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