CALGARY, ALBERTA–(Marketwired – Feb. 4, 2015) – Raging River Exploration Inc. (“Raging River” or the “Company“) (TSX:RRX) has closed its previously announced bought deal financing. A total of 13,800,000 Raging River common shares have been issued at a price $6.40 per share for gross proceeds of $88,320,000, which included the exercise in full of the over-allotment option granted to the underwriters.
The syndicate of underwriters was co-led by Peters & Co. Limited and FirstEnergy Capital Corp. and included, Dundee Securities Ltd., National Bank Financial Inc., Desjardins Securities Inc., GMP Securities L.P., Paradigm Capital Inc., Scotia Capital Inc., CIBC World Markets Inc., Cormark Securities Inc. and TD Securities Inc.
The net proceeds from the financing will initially be used to repay outstanding indebtedness under the Company’s credit facilities, which will be redrawn to fund the Corporation’s 2015 capital expenditure program and for general corporate purposes.
Raging River remains enthusiastic about the future of the Company. The Company will continue to pursue value added property, land and corporate acquisitions in addition to building on our base business through the drill bit.
Additional corporate information can be found on our website at www.rrexploration.com and at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Raging River Exploration Inc.
Mr. Neil Roszell, P. Eng.
President and Chief Executive Officer
403-767-1250
403-387-2951 (FAX)
Raging River Exploration Inc.
Mr. Jerry Sapieha, CA
Vice President, Finance and Chief Financial Officer
403-767-1265
403-387-2951 (FAX)
www.rrexploration.com