SILVERBIRCH ENERGY CORPORATION COMPLETES $13.34 MILLION FLOW-THROUGH SHARE
OFFERING
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
CALGARY, Dec. 9 /CNW/ - SilverBirch Energy Corporation ("SilverBirch") (TSXV:SBE) is pleased to announce that it has completed its previously announced private placement offering (the "Offering") of common shares ("Flow-Through Shares") of the Corporation issued on a "flow-through" basis pursuant to the Income Tax Act (Canada). The Flow-Through Shares are subject to a four-month hold period which will expire on April 10, 2011. At closing today, 1,450,000 Flow-Through Shares were issued, through a syndicate of underwriters, at a price of $9.20 per Flow-Through Share for aggregate gross proceeds to SilverBirch of $13,340,000. The syndicate of underwriters was led by RBC Dominion Securities Inc. and included TD Securities Inc., Merrill Lynch Canada Inc., FirstEnergy Capital Corp., National Bank Financial Inc. and Peters & Co. Limited (collectively, the "Underwriters"). In connection with the Offering, the Underwriters received a fee in a total amount equal to 5% of the gross proceeds of the Offering.
About SilverBirch
SilverBirch Energy Corporation is a pre-production oil sands company headquartered in Calgary, Alberta, Canada. SilverBirch has a rich portfolio of mining and in situ oil sands properties, including 50% ownership of the Frontier and Equinox Projects. To learn more, please visit www.silverbirchenergy.com.
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For further information:
Howard Lutley, President and Chief Executive Officer, at 403-538-7030
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