BlackPearl Resources Completes Public Offering of Common Shares

BlackPearl Resources Inc. completed a public offering of 26.5 million common shares at a price of $2.65 per share representing aggregate gross proceeds of approximately $70 million. The net proceeds of the offering were used to fund ongoing capital expenditures, including the first phase of the Onion Lake thermal project, and for general corporate purposes.

The offering was made through a syndicate of underwriters led by FirstEnergyCapital Corp., which included GMP Securities L.P., AltaCorp Capital Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Cormark Securities Inc., Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd., Paradigm Capital Inc., Peters & Co. Limited, PI Financial Corp., and Salman Partners Inc.

BlackPearl Resources Inc. was represented by Bennett Jones LLP with a team led by Renee Ratke (capital markets), which included Kahlan Mills and Tommy Wong (capital markets).

The underwriters were represented by Dentons Canada LLP with a team led by Tim Haney (capital markets), which included Lucas Tomei (capital markets).