CALGARY, Feb. 6, 2013 /CNW/ - Raise Production Inc. (TSX-V: RPC) (the
"Company") is pleased to announce that it has closed a private
placement offering of 5,000,000 common shares (the "Shares") at a price
of $0.40 per Share for total gross proceeds of $2,000,000. It is
anticipated that the net proceeds of the offering will be used for
general corporate purposes and continued development of the Company's
unique horizontal well bore production system. The Shares will be
subject to a four month hold period in accordance with applicable
Canadian securities laws and the rules of the TSX Venture Exchange.
The offering was non-brokered, however the Company has paid to Macquarie
Private Wealth Inc. a finder's fee equal to $120,000, representing 6%
of the gross proceeds of the offering.
The securities to be issued by the Company have not been and will not
be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of
the United States, and may not be offered or sold in the United States
absent registration or an applicable exemption there from under the
1933 Act and the securities laws of all applicable states.
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its
efforts on the production service sector, utilizing its patented
products to enhance and increase ultimate production in both
conventional and unconventional horizontal oil and gas wells.
This news release contains certain forward-looking statements. All
statements, other than statements of historical fact, are forward
looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from these
anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
SOURCE: Raise Production Inc.
For further information:
Eric Laing, President and Chief Executive Officer
Susan Scullion, Chief Financial Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Website at: www.raiseproduction.com