OilVoice - Maple Announces Completion of $11.84 milion Private Placement

Maple Announces Completion of $11.84 milion Private Placement

Tuesday, January 05, 2010

Maple Energy plc, an AIM listed integrated energy company with assets in Peru, announces the successful completion of its share offer by way of a private placement of 16,000,000 ordinary shares (the 'Placing Shares') at US$0.74 per ordinary share with institutional investors (the 'Placing') for aggregate gross proceeds of $11.84 million. Admission of the Placing Shares to trading on AIM will become effective and dealings will commence today, 05 January 2010.

Inteligo Sociedad Agente de Bolsa S.A. acted as agent to the Placing. Banco Internacional del Peru (INTERBANK) acted as financial advisor in the transaction.

Maple intends to use the net proceeds from the offering to fund certain capital expenditures associated with Maple's ethanol project in Peru and for general corporate purposes.

The new ordinary shares sold in the Placing represent in aggregate approximately 15.17% per cent of the issued and outstanding share capital of Maple on a non-diluted basis and will rank pari passu with Maple's existing ordinary shares.

Rex Canon, CEO of Maple Energy, commented today:
'We are pleased to announce this successful placing of new shares which will provide Maple with further funding to advance our ethanol project. We look forward to efficiently and effectively deploying the capital raised from this offering to further grow our business and enhance overall shareholder value.'