Nextraction Energy Corp. - 2011-03-24

Completed a bought deal financing for approximately 1.2 units of the company at C$2.16 per unit. NCP Northland Capital Partners Inc. was underwriter.

The net proceeds will be used for development of the company's newly acquired Provost property, which includes the acquisition of four producing light oil wells and the drilling of two horizontal wells this summer. The proceeds will also be for general working capital purposes.