SILVERBIRCH ENERGY CORPORATION COMPLETES $13.34 MILLION FLOW-THROUGH SHARE OFFERING
09 Dicembre 2010 - 10:18PM
PR Newswire (Canada)
CALGARY, Dec. 9 /CNW/ -- /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. NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/09/c4082.html
pHoward Lutley, President and Chief Executive Officer, at
403-538-7030/p
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