Bellatrix closes C$80 million financing

On August 9, 2016, Bellatrix Exploration Ltd. ("Bellatrix") closed its previously announced bought deal financing through a syndicate of underwriters led by National Bank Financial Inc., pursuant to which Bellatrix issued and sold C$50 million aggregate principal amount of 6.75% extendible unsecured subordinated convertible debentures at a price of C$1,000 per debenture and 25,000,000 subscription receipts at a price of C$1.20 per receipt for combined aggregate total gross proceeds of C$80 million.

In connection with the offering, Bellatrix has also granted the underwriters an option to purchase up to an additional 3,750,000 subscription receipts at a price of C$1.20 per receipt for aggregate gross proceeds of up to C$4.5 million and C$7.5 million aggregate principal amount of debentures to cover over-allotments and for market stabilization purposes, exercisable in whole or in part at any time, and from time to time, until 30 days after the closing date of the offering. The maximum aggregate gross proceeds that could be raised under the offerings is approximately C$92 million should the over-allotment option be exercised in full.

Bellatrix is a Western Canadian based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan.

Further information can be found on Bellatrix's website.