| Delphi Energy Announces Flow-Through Financing 07:58 EDT Friday, October 23, 2009 |  |
CALGARY, ALBERTA--(Marketwire - Oct. 23, 2009) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION TO U.S. NEWS OR WIRE SERVICES
Delphi Energy Corp. ("Delphi") (TSX:DEE) announces that it has entered into a private placement financing agreement with a syndicate of underwriters, led by National Bank Financial Inc., (the "Underwriters") to issue on a "bought deal" basis, 3,000,000 flow-through common shares of Delphi at an issue price of $2.12 per share resulting in gross proceeds of $6.36 million. Proceeds of the offering will be used to expand Delphi's ongoing capital program in North West Alberta at Hythe, Wapiti/Gold Creek and Bigstone incurring expenditures eligible for Canadian exploration expenses which will be renounced to subscribers of the flow-through common shares effective on or before December 31, 2009. Closing is expected to occur on or about November 16, 2009.
This press release is not an offer of securities for sale in the United States. The flow-through common shares may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended.
Delphi Energy is a Calgary-based company that explores, develops and produces oil and natural gas in Western Canada. The Company is managed by a proven technical team. Delphi trades on the Toronto Stock Exchange under the symbol DEE.
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