Dejour Financing Update
15.09.2010 | Business Wire
Issues Flow-Through Equity with MineralFields Group, Expands Credit
Facility
Dejour Enterprises Ltd. (NYSE-Amex: DEJ/ TSX:DEJ) ('Dejour?) is
pleased to announce that it has closed the placement of 2,000,000
flow-through common shares ('Shares?) at a price of C$0.375 per share
with MineralFields Group, an Ontario-based institution, for a total
consideration of CAD$750,000. Dejour will pay a 5% fee of the proceeds
in cash. The above is subject to approval by the TSX and the NYSE-Amex.
The Company further announces that it has secured a credit limit
increase of C$1.5 Million for its existing loan facility with an
Alberta-based lender, bringing the facility′s total available credit to
C$5 Million. Currently, $4 million have been drawn under this facility.
Proceeds from the private placement and credit facility expansion will
fund general working capital requirements and the fall/winter drilling
program at the Company′s Woodrush oil project in British Columbia. Two
additional oil wells are scheduled to be drilled prior to year end (the
project is already self funding).
This announcement does not constitute an offer to sell, nor is it a
solicitation of an offer to buy, securities. The Shares have not been
registered under the United States Securities Act of 1933, as amended
(the 'Securities Act?) or the securities laws of any other jurisdiction,
and may not be offered or sold in the United States without registration
under, or an applicable exemption from, the registration requirements of
the Securities Act.
About Dejour
Dejour Enterprises Ltd. is an independent oil and natural gas company
operating multiple exploration and production projects in North
America′s Piceance / Uinta Basin (109,000 net acres) and Peace River
Arch regions (20,000 net acres). Dejour′s veteran management team has
consistently been among early identifiers of premium energy assets,
repeatedly timing investments and transactions to realize their value
to shareholders' best advantage. Dejour maintains offices in Denver,
USA, Calgary and Vancouver, Canada. The company is publicly traded on
the New York Stock Exchange Amex (NYSE - Amex: DEJ) and Toronto Stock
Exchange (TSX: DEJ).
About MineralFields, Pathway and First
Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in
Toronto, Vancouver Montreal and Calgary, is a mining fund with
significant assets under administration that offers its tax-advantaged
super flow-through limited partnerships to investors throughout Canada
as well as hard-dollar resource limited partnerships to investors
throughout the world. Pathway Asset Management also specializes in the
manufacturing and distribution of structured products and mutual funds
(including the Pathway Multi Series Fund Inc. corporate-class mutual
fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities ® (a division of
Limited Market Dealer Inc.) is active in leading resource financings
(both flow-through and hard dollar PIPE financings) on competitive,
effective and service-friendly terms, and offers investment banking,
mergers and acquisitions, and mining industry consulting, services to
resource companies. MineralFields and Pathway have financed several
hundred mining and oil and gas exploration companies to date through
First Canadian Securities ®.
The TSX does not accept responsibility for the adequacy or accuracy
of this news release.
Dejour Enterprises Ltd.
Robert L. Hodgkinson, Co-Chairman & CEO
Phone:
604-638-5050
Facsimile: 604-638-5051
investor@dejour.com
or
Investor
Relations ? New York
Craig Allison, 914-882-0960
callison@dejour.com