April 8, 2014
WHITECAP RESOURCES INC. CLOSES $500 MILLION BOUGHT DEAL FINANCING
CALGARY, ALBERTA – Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"). Whitecap, through a syndicate of underwriters co-led by National Bank Financial Inc. and TD Securities Inc. and including GMP Securities L.P., Dundee Securities Inc., RBC Capital Markets, Scotia Capital Inc., CIBC World Markets, FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Peters & Co. Limited, Raymond James Ltd., and Cormark Securities Ltd. (collectively, the "Underwriters"), issued a total of 44,643,000 subscription receipts ("Subscription Receipts") at a price of $11.20 per Subscription Receipt for gross proceeds of approximately $500 million.
Each Subscription Receipt represents the right to acquire, without payment of additional consideration or further action, one common share of Whitecap (a "Common Share") upon closing of the previously announced acquisition of assets in the Pembina Cardium / west central area of Alberta and Boundary Lake area of British Columbia (the "Acquisition"). The Acquisition is expected to be completed on or about May 1, 2014 and is subject to customary industry closing conditions.
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