Open Range Closes $25 Million Financing

Open Range Energy Corp. has completed the issue of 2,595,300 common shares at a price of $4.20 per share and 2,400,000 Common Shares issued on a "flow-through" basis at a price of $5.00 per share, resulting in gross proceeds of approximately $22.9 million.

The offering was conducted by a syndicate of underwriters led by Cormark Securities Inc. and including Tristone Capital Inc., Canaccord Capital Corporation, GMP Securities L.P. and MGI Securities Inc. Open Range is also announced that an over-allotment option granted to the Underwriters to purchase an additional 500,000 Common Shares at a price of $4.20 per share has been exercised in full, resulting in additional gross proceeds of $2.1 million.

The net proceeds from the sale of the Common Shares will be used to fund Open Range's exploration and development drilling program and for general working capital purposes while proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities eligible for Canadian exploration expenses.


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