Steel Reef closes private placement

On March 17, 2014, Steel Reef Infrastructure Corp. (Steel Reef) completed its second private placement pursuant to which 48,150,000 common shares were subscribed at a price of C$1.35 per share for gross proceeds of C$65 million. FirstEnergy Capital Corp. and Peters & Co. Limited, served as co-lead agents for the syndicate which included Dundee Securities Ltd., GMP Securities L.P. and National Bank Financial Inc.

Proceeds from the private placement are expected to be used to target midstream investment opportunities in the Western Canadian Sedimentary Basin .

Steel Reef is a midstream company focused on strategically partnering with oil and gas exploration, development and production companies to develop a portfolio of midstream assets, through acquisition or construction, with a view to generating a regular dividend for its investors.

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