Toscana Energy Income Corporation Announces Closing of $6 Million
Private Placement
/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CALGARY,
Nov. 26, 2012 /CNW/ - Toscana
Energy Income Corporation (the "Company") (TSXV: TEI) is
pleased to announce that it has closed its previously announced
private placement offering of 400,000 common shares of the
Company (the "Common Shares") to affiliates of Sprott Inc. at an
issue price of $15.00 per Common
Share for gross proceeds of $6.0
million (the "Private Placement"). This closing follows the
previously announced closing of a brokered private placement
offering on November 22, 2012 of
666,700 common share special warrants ("Common Share Special
Warrants") sold by a syndicate of underwriters at a price of
$15.00 per Common Share Special
Warrant for gross proceeds of approximately $10 million. The aggregate gross proceeds
raised by the Company in connection with both offerings is
approximately $16 million.
About Toscana Energy Income Corporation
Toscana Energy Income Corporation is a
conventional oil and gas producer with the mandate to acquire high
quality, long life oil and gas assets including royalties,
non-operated working interests and unitized production for yield
and capital appreciation. Toscana Energy Income Corporation is
managed by Sprott Toscana through Toscana Energy Corporation.
Sprott Toscana is a member of the Sprott Group of Companies.
About Sprott Toscana
Sprott Toscana (formerly Toscana Merchant Group)
is a team of Calgary-based energy
specialists that manage three separate businesses: Toscana Energy
Income Corporation (through Toscana Energy Corporation), Toscana
Financial Income Trust and Maple Leaf Energy Income LPs. In
July 2012, Toscana Merchant Group
joined the Sprott Group of Companies when it was acquired by Sprott
Inc. (TSX: SII), Canada's leading
alternative asset manager and a global leader in resource
investing.
Neither the 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 release.
SOURCE Toscana Energy Income Corporation