Donnycreek Energy Inc. (TSX-V: DCK) reports that it has engaged a syndicate of agents led by RBC Capital Markets, Paradigm Capital Inc. and Cormark Securities Inc. in connection with a brokered private placement of up to $25,000,000 of common shares of the corporation.
The proceeds from the offering will be used for drilling the company's Kakwa block, advancing the Wapiti assets to be acquired in connection with the acquisition towards commercial development and for general corporate purposes.
Donnycreek has also entered into a purchase and sale agreement with Deventa Land Corp. to acquire interests in approximately 133.5 gross (93 net) sections of undeveloped lands in the Deep Basin area of West Central Alberta for a purchase price of $3,000,000 and two million common shares.
It is currently anticipated that the closing of the offering and the acquisition will occur on or about Oct. 15, 2012.
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