Peyto Exploration & Development Corp. Announces Closing of $160 Million Equity Offering NEWS RELEASE TRANSMITTED BY Marketwired FOR: Peyto Exploration & Development Corp. TSX SYMBOL: PEY FEBRUARY 5, 2014 Peyto Exploration & Development Corp. Announces Closing of $160 Million Equity Offering CALGARY, ALBERTA--(Marketwired - Feb. 5, 2014) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Peyto Exploration & Development Corp. (the "Corporation") (TSX:PEY) is pleased to announce that it has closed its previously announced bought deal offering of common shares. Pursuant to the offering, the Corporation issued 4,720,000 common shares (including 300,000 common shares issued pursuant to the partial exercise of the over-allotment option granted to the underwriters) at a price of $34.00 per common share, for total gross proceeds of approximately $160 million. The syndicate of underwriters was led by BMO Capital Markets and included FirstEnergy Capital Corp., RBC Dominion Securities Inc., CIBC World Markets Inc., Peters & Co. Limited, Scotia Capital Inc., TD Securities Inc., Acumen Capital Finance Partners Limited, Canaccord Genuity Corp. and Haywood Securities Inc. Net proceeds from the offering will initially be used to partially repay outstanding bank indebtedness and subsequently to fund the Corporation's ongoing capital expenditures and for general corporate purposes. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction. This press release contains forward-looking statements including statements concerning the anticipated use of the net proceeds of the offering. The intended use of the net proceeds of the offering might change if the board of directors determines that it would be in the best interests of the Corporation to deploy the proceeds for some other purpose. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control. Accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities laws. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Peyto Exploration & Development Corp. Darren Gee President & CEO (403) 237-8911 (403) 451-4100 INDUSTRY: Energy and Utilities - Oil and Gas SUBJECT: FNC -0- -0- Feb/05/2014 13:43 GMT
Peyto Exploration & Development Corp. Announces Closing of $160 Million Equity Offering
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