Angle Energy Inc. completes initial public offering and commences trading on the TSX


    TSX: NGL

    CALGARY, June 30 /CNW/ - Angle Energy Inc. ("Angle" or the "Company")
today completed its initial public offering of 3,875,000 common shares (the
"Common Shares"). Under the offering, the Common Shares were issued and sold
at $8.00 per Common Share for net proceeds to Angle of approximately
$28.3 million. The offering was led by GMP Securities L.P. on behalf of a
syndicate of underwriters including Tristone Capital Inc., BMO Nesbitt Burns
Inc. and FirstEnergy Capital Corp. (collectively, the "Underwriters"). The
Common Shares will begin trading on the Toronto Stock Exchange under the
trading symbol "NGL" when markets open today. Angle has also granted an
over-allotment option (the "Option") to the Underwriters to acquire up to an
aggregate of 581,250 Common Shares, representing 15% of the total offering, at
a price of $8.00 per common share. The Option is exercisable in whole or in
part by the Underwriters for a period of 30 days following the closing of the
offering. Angle has filed a final prospectus in relation to the offering on
June 23, 2008, a copy of which is available under Angle's profile on the
System for Electronic Data Analysis and Retrieval (SEDAR) at

    US Disclaimer

    These securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act") or any state
securities laws. Accordingly, these securities may not be offered or sold
within the United States or to U.S. persons (as such term is defined in
Regulation S under the 1933 Act) in the absence of an exemption from the
registration requirements of the 1933 Act and applicable state securities laws
and this release does not constitute an offer to sell or a solicitation of an
offer to buy any of these securities within the United States.

    About Angle

    Angle Energy Inc. was founded in 2004 for the purposes of participating
in oil and gas exploration, development and production in Canada. The
Company's focus is on generating and developing its own prospects and on the
acquisition of undeveloped lands directly or through farm-ins. At present,
Angle has two principal properties, both located in west central Alberta and
two emerging prospects, one entailing an extensive light oil prospect and the
other involving exploratory drilling on undeveloped land. Both emerging
prospects are also located in Alberta.

For further information:

For further information: Gregg Fischbuch, President and Chief Executive
Officer, T: (403) 263-4534,; Stuart Symon, Chief
Financial Officer, T: (403) 263-4534,; Heather
Christie-Burns, Chief Operating Officer, T: (403) 263-4534,,

Organization Profile

Angle Energy Inc.

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