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SBE Silverbirch Energy Corporation

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Share Name Share Symbol Market Type
Silverbirch Energy Corporation TSXV:SBE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

SILVERBIRCH ENERGY CORPORATION COMPLETES $13.34 MILLION FLOW-THROUGH SHARE OFFERING

09/12/2010 9:18pm

PR Newswire (Canada)


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. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2010/09/c4082.html pHoward Lutley, President and Chief Executive Officer, at 403-538-7030/p

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