Energy Company News Directory

Western Lithium Closes C$9.2 Million Bought Deal Financing

Western Lithium USA Corporation (TSX:WLC,OTCQX:WLCDF) has closed its previously-announced bought deal offering with Dundee Securities Ltd.. The announcement was made on behalf of a syndicate including Haywood Securities Inc., with RK Equity Capital Markets LLC acting as a U.S. Placement Agent. The offering consisted of 15,870,000 units of Western Lithium priced at C$0.58 per unit for aggregate gross proceeds of C$9,204,600 including units issued on the exercise in full under an over-allotment option for the underwriters.

Strata-X Energy Completes Stimulation of Vail Oil Horizontal Well

Strata-X Energy Ltd. (TSXV:SXE,ASX:SXA) has executed the completion stimulation of its horizontal Burkett 5-34HOR well for the Vail Oil project. Halliburton carried out the completion simulation of the well, which consisted of the stimulation of all six unstimulated stages. Strata-X will prepare for production testing of the well in coming weeks.

Tourmaline Oil Corp Expands Recent Financing

Tourmaline Oil Corp. (TSX:TOU) has increased the size of an earlier announced bought deal private placement flow-through common share offering. The expansion is taking place with a syndicate of underwriters led by Peters & Co. Limited and including FirstEnergy Capital Corp., Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Capital Markets and TD Securities Inc. Under the terms of the expanded financing, Tourmaline will now issue 1,000,000 flow-through common shares at a price of $68.15 per share for total proceeds of approximately $68 million. Furthermore, officers, directors and employees of Tourmaline will participate through the purchase of up to 150,000 additional flow-through common shares priced at $68.15 per share.

Critical Elements Sends Lithium Concentrate Samples to Users

Critical Elements Corporation (TSXV:CRE,OTCQX:CRECF,FWB:F12) has begun to ship samples of lithium concentrate to users. The users will analyze and validate the product specifications. Specifically, some users require that concentrate samples have a low iron content. Validation of the Rose project material by some of the largest consumers of low-iron lithium concentrate is essential to the process of setting up long-term off-take contracts.

Energy Fuels Announces Quarterly Financial and Operational Results, Working Capital at $42.27 million as of March 31st

Energy Fuels Inc. (NYSEMKT:UUUU,TSX:EFR) reported a strengthened working capital position of $42.27 million in its financial results for the three months ended March 31, 2014. Highlights of the report included: increased cash by $9.66 million, and a working capital of $42.27 million as of March 31st.

Ukraine’s Burisma Holdings Brings John Kerry’s Family Friend and Vice President Joe Biden’s Son on Board

The Wall Street Journal reported today that Burisma Holdings, a gas company based in Ukraine and controlled by a former energy official who served under Ukranian ex-president Viktor Yanukovych, has seen the son of vice president Joe Biden added to its board. A college roommate of Secretary of State John Kerry's stepson has also joined the board of the company.

Nemaska Lithium Feasibility Study for Whabouchi: NPV of $924M and IRR of 25.2%

Nemaska Lithium Inc. (TSXV:NMX) Feasibility Study results on the Whabouchi Mine and Concentrator to be located in the lower James Bay Region of Quebec and the Hydromet Plant to be located in Salaberry-de-Valleyfield, Quebec: NPV of $924M and IRR of 25.2%, with an expected mine life of 26 years and a 3.7 year payback of capital costs .