/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, April 4, 2012 /PRNewswire/ - ADIRA ENERGY LTD. (TSXV: ADL) (OTCBB: ADENF) ( FRANKFURT: AORLB8). Adira Energy Ltd. (" Adira" or the " Company") is pleased to announce that it has filed a preliminary short form prospectus with the securities regulatory authorities in Ontario, British Columbia and Alberta, in connection with a fully marketed public offering of common shares (the " Offering"). The Offering will also be made in such other jurisdictions outside of Canada, including the United States and the United Kingdom, where the Offering can be completed on a private placement basis, exempt from any prospectus, registration or other similar requirements.
The Offering will be conducted on a best efforts agency basis with GMP Securities L.P. and Cormark Securities Inc. acting as co-lead agents, together with a syndicate including Clarus Securities Inc. and FirstEnergy Capital Corp. (collectively the " Agents"). PowerOne Capital Markets Limited is acting as a member of the selling group in connection with the Offering.
The Company expects that gross proceeds of the Offering will be approximately C$15 million, however the final terms of the Offering, including size and price, will be determined in the context of the market.The Agents shall also have the option to purchase from the Company up to that number of additional common shares equal to 15% of the number of common shares issued under the Offering, exercisable in whole or in part any time from and including the closing date of the Offering for a period of 30 days following the Offering.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV