Delphi Energy to raise $6.36-million with FT financing
News Release
Mr. David Reid reports
DELPHI ENERGY ANNOUNCES FLOW-THROUGH FINANCING
Delphi Energy Corp. has entered into a private placement financing agreement with a syndicate of underwriters, led by National Bank Financial Inc., to issue on a "bought-deal" basis, three million 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 continuing capital program in northwest 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 Dec. 31, 2009. Closing is expected to occur on or about Nov. 16, 2009.
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