CALGARY, Jan. 18, 2016 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual” or the “Company“) is pleased to announce the successful closing of its previously announced rights offering which expired on January 15, 2016 (the “Rights Offering“). The Rights Offering together with the equity backstop arrangement generated approximately $25 million in gross proceeds to the Company which will be used to fund the Company’s 2016 capital expenditure program. The Company issued an aggregate of 665.4 million common shares of the Company (“Common Shares“), including 322.0 million Common Shares to Dreamworks Investment Holdings Ltd. (the “Backstopper“) through the Backstopper’s full exercise of its rights in accordance with the basic subscription privilege and additional subscription privilege of the Rights Offering. After completion of the Rights Offering and the repayment of the convertible debentures with Common Shares on December 31, 2015, there are 1,047.7 million Common Shares outstanding.
Kingsdale Shareholder Services acted as information agent and BMO Capital Markets acted as financial advisor for the Rights Offering.