/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/
CALGARY, June 2 /CNW/ - Breaker Energy Ltd. ("Breaker" or "Company")
(TSX: WAV) is pleased to announce that it has completed its previously
announced bought deal financing of 5,100,000 Class A Shares ("Class A Shares")
at an issue price of $4.60 each. The underwriting syndicate elected to
exercise its over-allotment option to increase the offering by 765,000 Class A
Shares, bringing the total offering to 5,865,000 Class A Shares and aggregate
gross proceeds of $26,979,000.
The underwriting syndicate was co-led by FirstEnergy Capital Corp. and
CIBC World Markets Inc., and included Wellington West Capital Markets Inc.,
BMO Nesbitt Burns Inc., Scotia Capital Inc., Dundee Securities Corporation,
Canaccord Capital Corporation, and Tristone Capital Inc.
Proceeds from the sale of the Class A Shares will be used to fund
Breaker's on-going capital expenditure program with a focus on Alberta oil
projects to capitalize on recent drilling incentives introduced by the Alberta
government, and for general corporate purposes.
Breaker Energy Ltd. is a junior oil and gas company focused on creating
shareholder value by growing per share production and reserves through
acquisitions and a focused exploration, development and exploitation plan.
Breaker Energy Ltd. now has 51,895,290 Class A Shares and 3,962,098
options outstanding, and trades on the TSX under the symbol WAV.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Breaker within the United
States. The securities of Breaker 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, the shares may not be offered or
sold in the United States or to U.S. persons (as such terms are defined in
Regulation S under the 1933 Act) unless registered under 1933 Act and
applicable state securities laws or an exemption from such registration is
The TSX does not accept responsibility for the adequacy or accuracy of
For further information:
For further information: Dan O'Neil, President & Chief Executive
Officer, (403) 215-5264; or Max Lof, Vice President, Finance & Chief Financial
Officer, (403) 215-5264, firstname.lastname@example.org, www.breakerenergy.com