New Issue: Greenshoe lifts Eagle Rock PIPE proceeds to C$7.84 million

By Sheri Kasprzak

New York, June 15 - Eagle Rock Exploration Ltd. said the over-allotment option on its previously announced private placement was exercised, bringing the proceeds to C$7,843,607.

The company sold 2,896,148 common shares at C$1.30 each; 1,088,700 Canadian development expenses flow-through shares at C$1.45 each; and 1,515,152 Canadian exploration expenses flow-through shares at C$1.65 each.

Placement agent Acumen Capital Finance Partners Ltd. exercised a greenshoe for 973,071 common shares and 399,045 CDD flow-through shares.

Proceeds from the flow-through shares will be used for the development and exploration of Eagle Rock's Canadian properties.

Calgary, Alta.-based Eagle Rock is an oil and natural gas exploration company.

Issuer:	Eagle Rock Exploration Ltd.
Issue:	Non flow-through, CDE and CEE flow-through shares
Amount:	C$7,843,607
Placement agent:	Acumen Capital Finance Partners Ltd.
Pricing date:	May 30
Settlement date:	June 15
Stock symbol:	TSX Venture: ERX
Stock price:	C$1.54 at close May 29
Stock price:	C$1.50 at close May 30
Stock price:	C$1.25 at close June 15
Non flow-through shares
Shares:	2,896,148 (includes greenshoe for 973,071 shares)
Price:	C$1.30
Warrants:	No
CDE flow-through shares
Shares:	1,088,700 (includes greenshoe for 399,045 shares)
Price:	C$1.45
Warrants:	No
CEE flow-through shares
Shares:	1,515,152
Price:	C$1.65
Warrants:	No

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