Canacol Energy Ltd. raised $57,500,288 through a bought deal prospectus offering

Counsel to Canacol Energy Ltd., which raised $57,500,288 through a bought deal prospectus offering with a syndicate of underwriters, including the underwriters' exercise of their over-allotment option.

The net proceeds of the offering will be used to fund seismic acquisition and drilling of exploration wells, the acquisition of new exploration blocks in Colombia and the repayment of debt. Canacol is a Canadian-based international oil and gas corporation with operations in Colombia, Brazil and Guyana.