Dec 19, 2012. /Lesprom Network/. Conifex Timber Inc. has completed its previously announced bought deal offering (the "Private Placement") of 1,329,566 units of the Company (the "Units"), which includes the exercise of the underwriters' over-allotment option, resulting in aggregate gross proceeds of approximately $9.3million, as the company said in the press release received by Lesprom Network. The Private Placement was conducted on a bought deal private placement basis by Salman Partners Inc. and a syndicate of underwriters, including Raymond James Ltd., RBC Dominion Securities Inc. and CIBC World Markets Inc. (collectively, the "Underwriters"). Each Unit consists of one common share of the Company (each, a "Common Share") and one-half one common share purchase warrant (each whole common share purchase warrant, a "Warrant") at a subscription price of $7.00 per Unit. Each Warrant will entitle the holder thereof to acquire a Common Share at an exercise price of $9.00 at any time within 24 months from the closing date. All Common Shares and Warrants issued in connection with the Private Placement (and any Common Shares issued upon the exercise of the Warrants prior to the completion of the hold period) are subject to a four-month hold period, which expires on April 19, 2013. In connection with the Private Placement, the Company paid the Underwriters a cash fee in the amount of 5% of the gross proceeds from the Private Placement. Conifex intends to use the net proceeds from the Private Placement for working capital purposes. Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Upon completion of its bioenergy facility at Mackenzie, British Columbia, Conifex's business sectors will be expanded to include bioenergy.