Donnycreek Energy Inc. has closed a previously announced bought deal offering (the "Offering") of 8,000,000 common shares of the Company (Common Shares) at a price of $2.10 per Common Share, resulting in gross proceeds of $16,800,000.

The Offering was made through a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and including Paradigm Capital Inc., Beacon Securities Limited and National Bank Financial Inc.

The net proceeds of the Offering are expected to be used to advance the drilling program at the Company's Kakwa and Wapiti properties, to fund future land acquisitions, if any, and for general corporate purposes.

Tags: Donnycreek Energy