Bellatrix Exploration closes bought deal financing

Torys acted as counsel to the underwriters co-led by Canaccord Genuity and Dundee Securities with a team that included Scott Cochlan, Leah Dickie and Yvan Moquin.

On June 5, 2014, Bellatrix Exploration Ltd. (Bellatrix) closed its previously announced bought deal offering of 18,170,000 common shares at a price of C$9.50 per common share for aggregate gross proceeds of C$172,615,000, which included the exercise in full of the underwriters' over-allotment option.

The syndicate of underwriters for the offering was co-led by Canaccord Genuity Corp. and Dundee Securities Ltd. and included AltaCorp Capital Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Northland Capital Markets, TD Securities Inc., CIBC World Markets Inc., GMP Securities L.P., Paradigm Capital Inc. and Scotia Capital Inc.

Net proceeds from the offering will be utilized to temporarily reduce outstanding indebtedness under the company's credit facilities, thereby freeing up borrowing capacity that may be redrawn, from time to time, to fund the company's ongoing capital expenditure program and for general corporate purposes.

Bellatrix is a growth oriented oil and gas company operating in Western Canada's Sedimentary Basin.

Further information can be found on Canada Newswire's website.