CALGARY,
Feb. 6, 2013 /CNW/ - Raise Production
Inc. (TSX-V: RPC) (the "Company") is pleased to announce that it
has closed a private placement offering of 5,000,000 common shares
(the "Shares") at a price of $0.40
per Share for total gross proceeds of $2,000,000. It is anticipated that the net
proceeds of the offering will be used for general corporate
purposes and continued development of the Company's unique
horizontal well bore production system. The Shares will be
subject to a four month hold period in accordance with applicable
Canadian securities laws and the rules of the TSX Venture
Exchange.
The offering was non-brokered, however the
Company has paid to Macquarie Private Wealth Inc. a finder's fee
equal to $120,000, representing 6% of
the gross proceeds of the offering.
The securities to be issued by the Company have
not been and will not be, registered under the United States
Securities Act of 1933, as amended (the "1933 Act"), or the
securities laws of any state of the
United States, and may not be offered or sold in
the United States absent
registration or an applicable exemption there from under the 1933
Act and the securities laws of all applicable states.
About Raise Production Inc.
The Company is an innovative oilfield service
company that focuses its efforts on the production service sector,
utilizing its patented products to enhance and increase ultimate
production in both conventional and unconventional horizontal oil
and gas wells.
This news release contains certain forward-looking
statements. All statements, other than statements of
historical fact, are forward looking statements that involve
various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from these anticipated in
such statements.
Neither 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 news release.
SOURCE Raise Production Inc.
