September 11, 2014
WHITECAP RESOURCES INC. CLOSES $125 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 led by National Bank Financial Inc. and including GMP Securities L.P., TD Securities Inc., CIBC World Markets, RBC Capital Markets, Scotia Capital Inc., FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Peters & Co. Limited, BMO Capital Markets, Cormark Securities Inc., and Dundee Securities Ltd. (collectively, the "Underwriters"), issued a total of 7,553,000 subscription receipts of Whitecap ("Subscription Receipts") at a price of $16.55 per Subscription Receipt for gross proceeds of approximately $125 million.
Each Subscription Receipt represents the right to acquire, without payment of additional consideration or further action on the part of the holder, one common share of Whitecap (a "Common Share") upon closing of the previously announced acquisitions to consolidate a controlling interest in a conventional Nisku light sweet oil pool at Elnora, Alberta and certain oil and gas assets in the Killam area of Alberta (the "Acquisitions"). The Acquisitions are expected to be completed on or about October 1, 2014 and are subject to customary industry closing conditions.
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