Paramount Energy Trust Closes $250.5M Financing

Paramount Energy Trust, a natural gas focused Canadian energy trust, headquartered in Calgary, closed a bought deal financing on June 20, 2007 of 20,450,000 subscription receipts at $12.25 per subscription receipt for gross proceeds of $250,512,500 and $75,000,000 aggregate principal amount of 6.50 per cent convertible extendible unsecured subordinated debentures.

The proceeds were used to fund a portion of the purchase price of the indirect acquisition of certain petroleum and natural gas properties and related assets in east central Alberta.

The offering was underwritten by an underwriting syndicate led by BMO Capital Markets and included Scotia Capital Inc., CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., RBC Capital Markets, FirstEnergy Capital Corp., GMP Securities L.P., Raymond James Ltd., Blackmont Capital Inc., Canaccord Capital Corporation, Cormark Securities Inc., Dundee Securities Corporation and Peters & Co. Limited.

Paramount was represented by Burnet, Duckworth & Palmer LLP with a team that included Jay Reid and James Kidd (securities) and David Ross (tax).

The underwriting syndicate was represented by Stikeman Elliott LLP with a team that included Leland Corbett and Kristi Kasper (securities) and Kevin Kelly (tax).


David W. Ross Jay P. Reid Leland P. Corbett James L. Kidd Kristi M. Kasper


Burnet, Duckworth & Palmer LLP Stikeman Elliott LLP