PRD Energy Inc. has closed its previously announced bought deal private placement offering (the "Brokered Offering") with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and TD Securities Inc. and including Haywood Securities Inc. and KES7 Capital Inc. (collectively, the "Underwriters") pursuant to which the Company issued 23,553,755 common shares of PRD ("Common Shares") (which includes the exercise, in part, of the underwriters' option to purchase an additional 1,330,755 Common Shares) at a price of $0.90 per Common Share for aggregate gross proceeds of $21,198,379.50. The Underwriters were paid a commission of 6% of the gross proceeds of the Brokered Offering.

The Company is also pleased to announce the closing today of the previously announced non-brokered private placement of 1,716,800 Common Shares at a price of $0.90 per Common Share for aggregate gross proceeds of $1,545,120, to certain members of the Board of Directors, management and employees (the "Non-Brokered Offering"). The Non-Brokered Offering together with the Brokered Offering are hereby collectively referred to as the "Offerings".

Tags: PRD Energy