Silverbirch Energy Corporation (TSXV:SBE)
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CALGARY, Dec. 9 /CNW/ --
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
CALGARY, Dec. 9 /CNW/ - SilverBirch Energy Corporation ("SilverBirch")
(TSXV:SBE) is pleased to announce that it has completed its previously
announced private placement offering (the "Offering") of common shares
("Flow-Through Shares") of the Corporation issued on a "flow-through"
basis pursuant to the Income Tax Act (Canada). The Flow-Through Shares
are subject to a four-month hold period which will expire on April 10,
2011. At closing today, 1,450,000 Flow-Through Shares were issued,
through a syndicate of underwriters, at a price of $9.20 per
Flow-Through Share for aggregate gross proceeds to SilverBirch of
$13,340,000. The syndicate of underwriters was led by RBC Dominion
Securities Inc. and included TD Securities Inc., Merrill Lynch Canada
Inc., FirstEnergy Capital Corp., National Bank Financial Inc. and
Peters & Co. Limited (collectively, the "Underwriters"). In connection
with the Offering, the Underwriters received a fee in a total amount
equal to 5% of the gross proceeds of the Offering.
About SilverBirch
SilverBirch Energy Corporation is a pre-production oil sands company
headquartered in Calgary, Alberta, Canada. SilverBirch has a rich
portfolio of mining and in situ oil sands properties, including 50%
ownership of the Frontier and Equinox Projects. To learn more, please
visit www.silverbirchenergy.com.
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(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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pHoward Lutley, President and Chief Executive Officer, at 403-538-7030/p