BlackPearl Resources Inc.
BLACKPEARL ANNOUNCES $70 MILLION BOUGHT DEAL EQUITY OFFERING, $10 MILLION PRIVATE PLACEMENT OF COMMON SHARES AND EXPANSION OF ITS CREDIT FACILITIES TO $150 MILLION

BlackPearl Resources Inc. 

25.02.2014 19:07

Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 

CALGARY, ALBERTA - BlackPearl Resources Inc. ('BlackPearl' or the 'Company')
(TSX:PXX) (NASDAQ OMX Stockholm:PXXS) is pleased to announce that it has
entered into an agreement with a syndicate of underwriters led by FirstEnergy
Capital Corp. (together, the 'Underwriters') under which they have agreed to
purchase for resale to the public, on a bought deal basis, 26,500,000 common
shares of BlackPearl ( 'Common Shares') at $2.65 per share for aggregate gross
proceeds of $70,225,000.  The offering will be completed by way of a short form
prospectus that will be filed in each of British Columbia, Alberta,
Saskatchewan, Manitoba and Ontario. 

In addition, the Underwriters have been granted an over-allotment option, which
may be exercised in whole or in part up to 30 days after closing of the
offering, to purchase up to 3,975,000 additional Common Shares at a price of
$2.65 per Common Share. If the over-allotment is fully exercised, gross
proceeds from the offering will be approximately $80,758,750. 

The Company also intends to issue by private placement an additional 3,773,585
Common Shares at $2.65 per share representing gross proceeds of $10,000,000. 

The Company intends to use the net proceeds from the offering and the private
placement to fund ongoing capital expenditures, including the first phase of
the Onion Lake thermal project, and for general corporate purposes. 

The offering and the private placement are scheduled to close on or about March
18, 2014 and are subject to the customary conditions including receipt of all
necessary regulatory and stock exchange approvals. 

BlackPearl is also pleased to announce that the Company's banking syndicate led
by Alberta Treasury Branches has agreed to increase the Company's credit
facilities from $115 million to $150 million upon completion of the offering
and the private placement. 

This news release does not constitute an offer to sell or a solicitation of any
offer to buy the securities in the United States. The securities offered have
not been and will not be registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements of such Act. 



Forward-Looking Statements

Certain of the statements made and information contained herein is
forward-looking statements and forward looking information (collectively
referred to as 'forward-looking statements') within the meaning of Canadian
securities laws, including the anticipated closing date of the equity offerings
and the use of proceeds. All statements other than statements of historical
fact may be forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as 'anticipate', 'believe',
'plan', 'continuous', 'estimate', 'expect', 'may', 'will', 'project', 'should',
'predict', 'targeting', 'seek', 'intend', 'could', 'potential' or similar
words. These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. The Company believes the
expectations reflected in those forward-looking statements are reasonable but
no assurance can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon. 

Undue reliance should not be placed on forward-looking statements, which are
inherently uncertain, are based on estimates and assumptions, and are subject
to known and unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or circumstances
contemplated by the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which forward-looking
statements are based will in fact be realized. Actual results will differ, and
the difference may be material and adverse to the Corporation and its
shareholders. 




         For more information, please contact:
         John Festival - President and Chief Executive Officer, Tel.: (403)
215-8313 
         Don Cook - Chief Financial Officer, Tel: (403) 215-8313
News Source: NASDAQ OMX



25.02.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      BlackPearl Resources Inc.
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0002060863
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------