Tamarack Valley Energy Ltd. has entered into a financing agreement with a syndicate of underwriters led by Dundee Securities Ltd. (the "Underwriters") to issue and sell on a "bought deal" basis, 7,000,000 common shares of Tamarack (the "Common Shares") at an issue price of $4.30 per Common Share resulting in gross proceeds of $30,100,000. Proceeds of the offering will be used to initially reduce bank indebtedness and thereafter to partially fund the Company's continuing capital program and for general corporate purposes.

The Common Shares will be offered in all provinces of Canada, except Quebec, by way of a short form prospectus and the Common Shares may be sold in the United States on a private placement basis pursuant to exemptions from registration requirements. Closing of the offering is expected to occur on or about February 19, 2014 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Tags: Tamarack Valley Energy Ltd.