Niko Reports $163M Finance Deal

Niko Resources Ltd. said that it has entered into a bought deal financing agreement with a syndicate of underwriters led by Canaccord Capital Corporation and including FirstEnergy Capital Corp., Orion Securities Inc., Tristone Capital Inc., UBS Securities Canada Inc., Sprott Securities Inc., Maison Placements Canada Inc., and Fraser Mackenzie Limited to issue 2,000,000 common shares at a price of $81.50 per share for gross proceeds of approximately $163 million.

In addition, the underwriters will have an option to purchase an additional 300,000 common shares at a price of $81.50 per common share, exercisable in whole or in part at the sole discretion of the underwriters for a period of 30 days from the closing of the offering for the purpose of covering the underwriters' over-allocation position. Niko Resources Ltd. will apply the proceeds of this issue towards its exploration and development program and for general corporate purposes.

Niko Resources Ltd. is an international oil and natural gas exploration, development and production company with operations focused in India, Bangladesh and Thailand.