CALGARY, July 5, 2013 /CNW/ - Bengal Energy (TSX: BNG) ("Bengal", or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement of 8,000 units ("Units") of the Company at a price of $1,000 per Unit for aggregate gross proceeds of $8.0 million (the "Private Placement"). The proceeds from the Private Placement will be used to fund the Company's previously announced purchase of an additional 5.357% interest in its key property, Cuisinier, located in the Cooper-Eromanga Basin in Queensland, Australia (the "Acquisition"). Following closing of the Acquisition, Bengal's net production participation will increase by more than 20%. Each Unit consists...
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