whitecap resources inc. closes over-allotment option in respect of bought deal subscription receipt financing

WHITECAP RESOURCES INC. CLOSES OVER-ALLOTMENT OPTION IN RESPECT OF BOUGHT DEAL SUBSCRIPTION RECEIPT FINANCING

CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce the over-allotment option (the "Over-Allotment Option") associated with its bought deal financing which closed on March 29, 2011 ("Financing") has been exercised by the underwriters. Pursuant to the Financing, the underwriters co-led by GMP Securities L.P. and National Bank Financial Inc., and including FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Casimir Capital Ltd., Cormark Securities Inc., Haywood Securities Inc. and Peters & Co. Limited (the "Underwriters") were issued the Over-Allotment Option to purchase an additional 2,000,000 subscription receipts ("Subscription Receipts") at a price of $6.80 per Subscription Receipt for 30 days following March 29, 2011. The Underwriters have elected to exercise the Over-Allotment Option for 2,000,000 subscription receipts for gross proceeds to the Company of $13,600,000 (the "Over-Allotment Proceeds").

 

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