Blackbird Energy Inc. Announces Closing of Unit and CDE Flow-Through Share Financing, Including Exercise in Full of Over-Allotment Options, for Gross Proceeds of $28.8 Million

Blackbird Energy Inc. (“Blackbird” or the “Company”) (TSX VENTURE:BBI) is pleased to announce that it has closed its previously announced marketed public offering of 176,410,000 units (“Units”) of the Company at a price of $0.15 per Unit and 15,410,000 common shares of the Company (“Common Shares”) issued on a “CDE flow-through” basis (“Flow-Through Shares”) at a price of $0.15 per Flow-Through Share for aggregate gross proceeds of $28,773,000 (the “Offering”), which includes 23,010,000 Units and 2,010,000 Flow-Through Shares issued pursuant to the exercise in full of the over-allotment options.

Each Unit consists of one Common Share and one Common Share purchase warrant of the Company (“Warrant”). Each Warrant entitles the holder thereof to acquire, subject to adjustment in accordance with the indenture governing the Warrants, one Common Share (each, a “Warrant Share”) at an exercise price of $0.30 per Warrant Share, at any time prior to the date that is 60 months following the closing date of the Offering. The Warrants have been conditionally approved for listing to trade on the TSX Venture Exchange and are anticipated to commence trading at the open on Tuesday, May 24, 2016. The Warrants will trade under the symbol “BBI.WT”.

The Offering was co-led by Dundee Securities Ltd. and Haywood Securities Inc., and included Scotia Capital Inc., Raymond James Ltd., Cormark Securities Inc. and Mackie Research Capital Corporation.

About Blackbird

Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.

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