CALGARY, ALBERTA--(Marketwire - Sept. 28, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Border Petroleum Corp. (TSX VENTURE:BOR) ("Border" or the "Corporation") is pleased to announce that it has closed its previously announced bought deal financing (the "Offering"). Pursuant to the Offering, the Corporation has issued a total of 48,335,000 Common Shares, 4,550,000 CDE Flow-Through Common Shares, and 55,556,000 CEE Flow-Through Shares of the Corporation. The Common Shares were issued at a price of $0.15 per share, the CDE Flow-Through Shares were issued at a price of $0.165 per share, and the CEE Flow-Through Common Shares were issued at a price of $0.18 per share, for aggregate gross proceeds of $18,001,080. The syndicate of underwriters was led by Dundee Securities Ltd. and included Macquarie Capital Markets Canada Ltd., Canaccord Genuity Corp., National Bank Financial Inc. and Fraser Mackenzie Limited (collectively, the "Underwriters"). The Underwriters received a fee of 6% of the gross proceeds of the Offering.
The net proceeds of the Offering will be used primarily for the Corporation's exploration and development program and for general corporate purposes.