| |
Storm Cat Energy Corporation Closes C$ 23.1 Million Private Placement of Units and Flow-Through Common Shares
Thursday, September 28, 2006
CALGARY and DENVER – (PR Newswire) –
September 28, 2006 – Storm Cat Energy Corporation
(AMEX: SCU
- News;
TSX: SME
- News)
today announced that it has closed its private placement previously announced
on September 19, 2006. The private placement consisted of the sale to a single
investment group based in Ontario, Canada, acting as portfolio manager for
fully-managed accounts, of 7,594,937 units (C$12,000,000.46) and 6,172,839
flow-through common shares (C$11,111,110.20) (the “Offering”). Each unit,
priced at C$1.58 per unit, is comprised of one common share and approximately
0.28 of a common share purchase warrant (2,126,582 warrants). Each whole
common share purchase warrant is exercisable into one common share at a price
of C$1.90 per share for a period of 18 months from closing. Each flow-through
common share was priced at C$1.80 per share. In connection with the Offering,
the Company has paid a cash commission equal to 6% of the aggregate gross
proceeds of the Offering.
The securities distributed under the Offering are subject to a 4-month hold period and may not be traded before
January 28, 2007 unless permitted under applicable securities legislation and the rules of the Toronto Stock Exchange.
The securities issued under the Offering have not been registered under the United States Securities Act of 1933
or any state securities laws, and unless so registered may not be offered or sold in the United States, except
pursuant to an exemption from, or in a transaction subject to, the registration requirements of the Securities
Act of 1933 and applicable state securities laws. This press release is issued pursuant to Rule 135(c) of the
Securities Act of 1933, and does not constitute an offer to sell, or the solicitation of an offer to buy, nor
shall there be any sale of the common shares or warrants in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Storm Cat Energy Corporation
Storm Cat Energy is an independent oil and gas company focused
on the pursuit, exploration and development of large unconventional gas reserves from fractured shales, coal beds
and tight sand formations. The Company has producing properties in Wyoming's Powder River Basin, exploration and
development acreage in Canada, Arkansas and Alaska. The Company's shares trade on the American Stock Exchange
under the symbol "SCU" and in Canada on the Toronto Stock Exchange under the symbol "SME."
Storm Cat Energy Corporation
J. Scott Zimmerman
President and Chief Executive Officer
Company Contact:
Scott Zimmerman, President and Chief Executive Officer
Paul Wiesner, Chief Financial Officer
Phone: 87-STORMCAT
www.stormcatenergy.com
Source:
Storm Cat Energy Corporation
|
