Canbriam Energy announces closing of private offering of US$250 million of senior unsecured notes

CALGARY, Nov. 17, 2014 /CNW/ - Canbriam Energy Inc. ("Canbriam") announces that on Friday, November 14, 2014, it closed its private placement to eligible purchasers of US$250 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 "Securities Act").  The Notes were sold at 94% of their principal amount with net proceeds of the offering being approximately US$230 million.

"Completing this Notes offering under current market conditions is a testament to the quality of our asset and of our team," said Paul Myers, Canbriam President & Chief Executive Officer. "This transaction will help solidify Canbriam`s funding through 2015 and gives us increased flexibility as we move forward with our development plans."

Canbriam intends to use the net proceeds of the offering to repay borrowings under its revolving credit facility and for general 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 2008 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]

Related Links

www.canbriam.com