/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Aug. 14 /CNW/ - BNK Petroleum Inc. (TSX: BKX) (the "Company ")
is pleased to announce that it has closed its previously announced private
placement for gross proceeds of $25,160,000. The proceeds of the financing
will be used by the Company primarily to fund its exploration and development
activities in the Tishomingo gas field in Oklahoma and for general working
capital. The financing consisted of 13,600,000 common shares issued at a price
of $1.85 per share, which includes the underwriters' option.
The bought deal equity financing was led by a syndicate of underwriters
led by Canaccord Capital Corporation which included Genuity Capital Markets,
Macquarie Capital Markets Canada Ltd. and Capital One Southcoast Inc.
All common shares issued pursuant to this financing will be subject to a
four month hold period which expires on December 15, 2008.
About BNK Petroleum Inc.
BNK Petroleum Inc. is a California based oil and gas exploration and
production company focused on finding and exploiting large oil and gas
resource plays. The Company holds an average of 50% interest in the Tishomingo
gas field in Oklahoma and varied interests in three other areas in the
Northern and Central regions of the United States, where it is currently
pursuing the exploration, development and production of shale and tight sand
gas plays. The Company's shares are traded on the Toronto Stock Exchange under
the stock symbol BKX.
The TSX does not accept responsibility for the adequacy or accuracy of
For further information:
For further information: Wolf Regener, President and Chief Executive
Officer, (805) 484-3613; Juneyt Tirmandi, Chief Financial Officer, (403)
541-5319, Email: email@example.com; Website: