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Press release from CNW Group


Thursday, March 17, 2011

CEQUENCE ENERGY LTD. ANNOUNCES CLOSING OF $45.5 MILLION EQUITY FINANCING08:39 EDT Thursday, March 17, 2011/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./CALGARY, March 17 /CNW/ - Cequence Energy Ltd. ("Cequence") (TSX: CQE) is pleased to announce that it has closed its previously announced "bought deal" short form prospectus offering of 13,397,500 common shares in the capital of Cequence (including 1,747,500 common shares issued pursuant to the exercise of an over-allotment option previously granted to the syndicate of underwriters) at a price of $2.85 per common share and 2,100,000 common shares in the capital of Cequence issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) at a price of $3.50 per flow-through share for total gross proceeds of approximately $45.5 million.  The offering was conducted through a syndicate of underwriters led by Peters & Co. Limited and included FirstEnergy Capital Corp., Cormark Securities Inc., National Bank Financial Inc., Stifel Nicolaus Canada Inc. and CIBC World Markets Inc.Cequence is a publicly traded Canadian energy company involved in the acquisition, exploitation, exploration, development and production of natural gas and crude oil in western Canada.  Further information about Cequence may be found in its continuous disclosure documents filed with Canadian securities regulators at Toronto Stock Exchange has neither approved nor disapproved the contents of this press release.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The Common shares 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 an applicable exemption from such registration requirements.For further information: Paul Wanklyn, President and Chief Executive Officer, (403) 218-8850,; or David Gillis, Vice President, Finance and Chief Financial Officer, (403) 806-4041,