10:03 AM EST - Pinecrest Energy Inc. : announced that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Cormark Securities Inc., GMP Securities L.P., Peters & Co. Limited, and Paradigm Capital Inc. to issue, on a bought deal basis, 29,050,000 common shares of Pinecrest at a price of $1.55 per Common Share for aggregate gross proceeds of $45,027,500. Pinecrest Energy Inc.
shares V.PRY are trading off 6 cents at $1.64.
