Kelt Exploration Ltd. - 2014-03-25

Completed brokered private offering of some 9 million shares priced at $11.60 each. Also issued some 1 million common shares on flow-through basis at $12.75 each, noting that last issuance resulted in gross proceeds of almost $20 million. Syndicate of underwriters led by Peters & Co. Ltd. included FirstEnergy Capital Corp., RBC Capital Markets, National Bank Financial Inc., CIBC World Markets Inc., GMP Securities LP, Scotia Capital Inc., AltaCorp Capital Inc., Dundee Securities Ltd., Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd. Kelt additionally completed previously announced nonbrokered private placement to certain insiders of some 1 million notes priced at $12.75 each. This yielded gross proceeds of some $14 million. Net proceeds from the offerings will partly finance 2014 capex and general working capital.