Adira Energy Ltd. - 2012-08-09

Adira Energy announced the closing of its previously announced prospectus offering of units. A total of 79,012,640 units were sold under the Offering for aggregate gross proceeds of $11.1 million. The net proceeds of the Offering will be used to advance exploration and development programs on the Gabriella, Yitzhak and Samuel licenses and for general corporate purposes.The Offering was completed by a syndicate of agents co-led by GMP Securities L.P., Cormark Securities Inc. and Dundee Securities Ltd. and included Clarus Securities Inc. and FirstEnergy Capital Corp. PowerOne Capital Markets Limited acted as a member of the selling group in connection with the Offering.