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CALGARY,
June 18, 2013 /CNW/ - Toscana
Energy Income Corporation (the "Company") (TSX Venture: TEI) is
pleased to announce the successful closing of the previously
announced private placement offering (the "Private Placement") of
$5.0 million aggregate principal
amount of 6.75% convertible unsecured subordinated debentures (the
"Debentures") to affiliates and designees of Sprott Inc. at a price
of $1,000 per Debenture. This
closing follows the previously announced closing of the Company's
public offering (the "Public Offering") on June 11, 2013 of $15.0
million aggregate principal amount of Debentures sold by a
syndicate of underwriters at a price of $1,000 per Debenture. The aggregate gross
proceeds raised by the Company in connection with both offerings is
$20 million. The Debentures
issued under the Public Offering are listed on the TSX Venture
Exchange under the symbol "TEI.DB". The Debentures issued under the
Private Placement have been conditionally approved for listing by
the TSX Venture Exchange following the expiry of the four month
restricted period on October 19,
2013.
About Toscana Energy Income Corporation
Toscana Energy Income Corporation is a
conventional oil and gas producer with the mandate to acquire high
quality, long life oil and gas assets including royalties,
non-operated working interests and unitized production for yield
and capital appreciation. Toscana Energy Income Corporation is
managed by Sprott Toscana through Toscana Energy Corporation.
Sprott Toscana is a member of the Sprott Group of Companies.
About Sprott Toscana
Sprott Toscana (formerly Toscana Merchant Group)
is a team of Calgary-based energy
specialists that manage three separate businesses: Toscana Energy
Income Corporation (through Toscana Energy Corporation), Toscana
Financial Income Trust and Maple Leaf Energy Income LPs. In
July 2012, Toscana Merchant Group
joined the Sprott Group of Companies when it was acquired by Sprott
Inc. (TSX: SII), Canada's leading
alternative asset manager and a global leader in resource
investing.
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.
SOURCE Toscana Energy Income Corporation