XCITE ENERGY LIMITED ("XEL")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: July 11, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 11,616,875 bonus common shares of the Company ("Bond Shares") at a deemed price of #0.685 (approximately CAD$1.262) per Bond Share under a proposed non-convertible bond offering (the "Offering"). Under the terms of the Offering, the Company will be issuing approximately $150,000,000 principal non-convertible bonds ("Bonds"), which will be issued at a 90% discount to face value along with the Bond Shares.
In addition, the Company issued 4,302,546 common shares of the Company ("Placed Shares") at a price of #0.685 per Placed Share to a sole subscriber under the Offering.
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