CALGARY, ALBERTA--(Marketwire - Dec 31, 2012) - Sunridge Energy Corp. (TSX VENTURE:SRG) ("Sunridge" or the "Corporation") announces closing of the first tranche of its previously announced private placement. The Corporation issued an aggregate of 1,472,000 common shares for gross proceeds of $342,780. 1,001,000 common shares were issued on a flow-though basis at a price of $0.15 per share, and the balance of 471,000 shares were issued as ordinary common shares at a price of $0.13 per share. The Corporation paid commissions and finders'' fees totaling $23,273 and issued broker warrants entitling the holders to acquire an aggregate of 41,626 common shares at a price of $0.13 per share, for a period of one year.
The Corporation plans to resume its financing efforts in the first quarter of the new year.
Sunridge Energy Ltd. is an Alberta-based exploration and production Corporation focused on cost effective, sustainable oil development projects.
On behalf of the board,
Dwayne Tyrkalo, Chief Executive Officer
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management''s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sunridge cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Sunridge''s control. Actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Sunridge undertakes no obligation to publicly update or revise forward-looking information.