Sorjosen Yrjön puulaakille privvaatti plaseeraus BKX:ään

BNK Petroleumin tiedote:

CAMARILLO, CA, Oct. 19 /PRNewswire/ - BNK Petroleum Inc. (the "Company") (TSX: BKX) is pleased to announce a non-brokered Cdn.$66 million private placement, representing 26,000,000 common shares at a price of Cdn.$2.54 per share, to Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC.. ("Quantum").

The financing is subject to, among other things, approval of the Toronto Stock Exchange. The Company will pay fees of approximately 3% of the gross proceeds in aggregate to Macquarie Capital Markets Canada Ltd., who acted as the Company's financial advisor on the transaction and GMP Securities L.P., TD Securities Inc., Paradigm Capital Inc. and others who acted as strategic advisors to the Company.

The shares issued pursuant to the financing will be subject to a four month hold period in Canada commencing on the date of the closing. Upon completion of the private placement Quantum will hold approximately 19.5% of the Company's issued and outstanding shares. Closing of the financing is currently scheduled to occur on or about October 25 2010, subject to receipt of all necessary approvals.

The Company intends to use the net proceeds of the private placement for general corporate purposes, including work commitments on its European shale gas concessions.