TORC Oil & Gas Ltd.

Closed the public offering of about 12.23 million common shares in a bought deal financing through a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. Also completed a concurrent private placement of about 3.54 million shares to its cornerstone investor, the Canada Pension Plan Investment Board. The net proceeds from the financings will initially be used to reduce credit facility debts. Credit facility will be redrawn to fund the purchase of complementary light oil assets in southeast Saskatchewan.