DXI Energy Closes C$285,000 Tranche of Equity Raise
VANCOUVER, BRITISH COLUMBIA, December 19, 2017 – DXI Energy Inc. (TSX: DXI) / (OTCQB: DXIEF) (“DXI” or the “Company”), an upstream oil and gas exploration and production company focused in Colorado’s Piceance Basin and the Peace River Arch region of Canada’s Western Sedimentary Basin, today announced, subject to review by the appropriate regulatory authorities, that it has closed additional subscriptions for 2,413,333 shares at C$0.075 per share and 1,144,777 flow through shares at C$0.09 per share. Funds will be applied to the ongoing drill program at Woodrush targeting new oil production and oil reserve expansion. Total issued capital is now 101.5 million shares.
About DXI Energy Inc.:
DXI Energy Inc. is an upstream oil and natural gas exploration and production company with producing projects in Colorado’s Piceance Basin (25,684 net acres) and the Peace River Arch region in British Columbia (13,093 net acres). DXI Energy Inc. maintains offices in Calgary and Vancouver, Canada. The Company is currently publicly traded on the OTCQB (DXIEF) and Toronto Stock Exchange (DXI.TO).
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DXI Energy Inc.:
Robert L. Hodgkinson Craig Allison
Chairman & CEO Investor Relations-New York