Canbriam Energy announces closing of private offering of US$101 million of senior unsecured notes

CALGARY, June 2, 2015 /CNW/ - Canbriam Energy Inc. ("Canbriam") announces that it has closed an add-on private offering of US$101 million in aggregate principal amount of 9.75% senior unsecured notes due 2019 ("the Notes"). The Notes were offered and sold in the United States to qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended. The Notes were issued pursuant to an indenture dated as of November 14, 2014 and sold at 103% of their principal amount with net proceeds of the offering being approximately US$101 million.

"Our ability to deliver on our growth plans allowed us to complete this add-on to our original Notes offering," said Paul Myers, Canbriam President & Chief Executive Officer. "This transaction gives us additional financial flexibility as we continue with the development of our Altares Montney asset."

Canbriam intends to use the net proceeds of the offering for general corporate purposes, including its ongoing drilling and completions program and expansion of its gas processing facilities.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Canbriam

Canbriam Energy Inc. is a private intermediate exploration and production company with a focus on liquids rich natural gas. Its principal producing properties and acreage positions are in the Altares Montney of Northeast British Columbia, which has been substantially de-risked to support its development plans. The company was founded in 2007 and is headquartered in Calgary, Alberta with an office in Fort St. John, British Columbia. For more information please visit www.canbriam.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of securities legislation. All statements, other than historical facts, that address activities  that Canbriam intends, assumes, plans, expects, believes or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Forward-looking statements herein relate to the use of the net proceeds of the Notes offering. The forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the management of Canbriam. Canbriam undertakes no obligation to update or revise any forward-looking statements. Any forward-looking statements in this release are expressly qualified by this cautionary statement.

SOURCE Canbriam Energy Inc.

Investor & Media Contact: Paul Myers, President and Chief Executive Officer, [email protected], [phone]; Rob Froese, Chief Financial Officer, [email protected], [phone]; Bill Stait, Director, Investor Relations, [email protected], [phone]