LGX Oil + Gas Inc. Announces Closing of Bought Deal Financing

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CALGARY, Nov. 7, 2012 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") 
(TSXV: OIL) is pleased to announce it has closed its previously announced 
bought deal financing ("Financing"). Pursuant to the Financing, LGX issued a 
total of 49.5 million Subscription Receipts at a price of $0.86 each and 4.81 
million common shares issued on a flow-through basis at a price of $1.04 each, 
for gross proceeds of $47,572,400. 
The Financing was co-led by FirstEnergy Capital Corp. and Raymond James Ltd. 
and included a syndicate of underwriters consisting of GMP Securities L.P., 
Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Scotia 
Capital Inc. and BMO Capital Markets Inc. 
The net proceeds of the Financing will be used to fund the cash purchase price 
payable by LGX pursuant to the previously announced acquisition of assets in 
the Manyberries area of Alberta (the "Acquisition") and for general corporate 
purposes. 
The gross proceeds from sale of the Subscription Receipts will be held in 
escrow pending the receipt by the escrow agent and the underwriters of notice 
from LGX that all conditions precedent to the completion of the Acquisition 
have been satisfied or waived. If such notice is received on or before 
December 31, 2012, the proceeds will be released to LGX to fund the 
Acquisition and each Subscription Receipt will be exchanged for one common 
share of LGX for no additional consideration. If the Acquisition is not 
completed on or before December 31, 2012, holders of Subscription Receipts 
will receive a cash payment equal to the offering price of the Subscription 
Receipts and any interest that was earned thereon during the time of escrow. 
Legacy Oil + Gas Inc. ("Legacy") currently holds 10 million common shares of 
LGX, representing approximately 33 percent of the outstanding common shares 
prior to the Financing. Legacy purchased 6 million Subscription Receipts 
under the Financing. If the Acquisition is completed, Legacy will hold 16 
million common shares, representing approximately 18 percent of the 
outstanding common shares of LGX. Legacy has filed on SEDAR an early warning 
report respecting its acquisition of Subscription Receipts pursuant to the 
Financing, a copy of which will be available for viewing under LGX's profile 
on SEDAR or may be obtained by contacting LGX as set out below. Legacy 
acquired the Subscription Receipts for investment purposes. Legacy has no 
current intention to acquire any further securities of LGX, but may do so in 
the future as circumstances warrant. Further details concerning Legacy's 
participation in the Financing are also provided in a material change report 
that has been filed by LGX on SEDAR. 
LGX is a uniquely positioned, technically driven, junior oil and natural gas 
company with a proven management team committed to aggressive, 
cost‐effective growth of light oil reserves and production in large 
hydrocarbon in‐place assets and resource plays. LGX's common shares trade on 
the TSX Venture Exchange under the symbol OIL. 
This press release shall not constitute an offer to sell, nor the solicitation 
of an offer to buy, any securities in the United States, nor shall there be 
any sale of securities mentioned in this press release in any state in the 
United States in which such offer, solicitation or sale would be unlawful 
prior to registration or qualification under the securities laws of any such 
state. 
Trent J. Yanko, P.Eng. President + CEO 
LGX Oil + Gas Inc. 4400, 525 - 8th Avenue S.W. Calgary, AB T2P 1G1 
Telephone: 403.441.2300 Fax: 403.441.2017 
Matt Janisch, P.Eng. Vice-President, Finance + CFO 
LGX Oil + Gas Inc. 4400, 525 - 8th Avenue S.W. Calgary, AB T2P 1G1 
Telephone: 403.441.2300 Fax: 403.441.2017 
SOURCE: LGX Oil + Gas Inc. 
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CO: LGX Oil + Gas Inc.
ST: Alberta
NI: OIL FIN  
-0- Nov/07/2012 14:37 GMT
 
 
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