Adira Energy Ltd. - 2012-07-26

Adira Energy Ltd. announced that it has filed a final short form prospectus containing the details of its previously announced fully marketed prospectus offering. The Company has entered into an agency agreement to arrange for the sale on a "best efforts" basis of a minimum of 71,428,571 units and up to a maximum of 107,142,857 units of the Company at a price of $0.14 per Unit, for aggregate gross proceeds of a minimum of $10,000,000 and a maximum of up to $15,000,000. PowerOne Capital Markets Limited is acting as a member of the selling group in connection with the Offering. The Company intends to use the net proceeds of the Offering to advance the Company's exploration and development activities on its Gabriella, Yitzhak and Samuel Offshore Licenses, actively continue with the Company's 2012 exploration and development program and for general corporate purposes.