Press release from CNW Group
Marquee Energy Ltd. Announces Closing of Private Placement
Friday, December 30, 2011
Marquee Energy Ltd. Announces Closing of Private Placement05:30 EST Friday, December 30, 2011CALGARY, Dec. 30, 2011 /CNW/ - Marquee Energy Ltd. (the "Company") (TSXV: MQL) announced today that the Company closed its previously announced private placement of common shares of the Company. Pursuant to the fully subscribed private placement, the Company issued 588,236 common shares on a flow-through basis (the "CEE Flow-Through Shares"), at a price of $1.70 per CEE Flow-Through Share, for grossproceeds of approximately $1,000,000. The CEE Flow-Through Shares are subject to a restricted period of four months and a day, expiring on April 30, 2012. Certain registered dealers received a finder's fee equal to 4% of the gross proceeds from the placement of CEE Flow-Through Shares with retail investors and 6% of the gross proceeds from the placement of CEE Flow-Through Shares with institutional investors, with an aggregate of approximately $26,940 payable to such registered dealers.In addition, the Company also announces the departure of Elizabeth Burke-Gaffney, Vice President, Land.Additional Information about Marquee Energy Ltd.Marquee Energy Ltd. is a publicly traded Calgary-based growth oriented junior oil and gas company currently focused on high rate of return, oil and liquids rich gas production in Southern Alberta. Additional information about Marquee Energy Ltd. may be found in its continuous disclosure documents filed with Canadian securities regulators at www.sedar.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For further information: Marquee Energy Ltd. Richard Thompson Roy Evans President & Chief Executive Officer Vice President, Finance & Chief Financial Officer (403) 384-0000 (403) 384-0000 RThompson@marquee-energy.com REvans@marquee-energy.com or visit the Company's website at www.marquee-energy.com.