On December 10, 2013, Hemisphere Energy Corporation (Hemisphere) announced that it had closed a bought deal equity financing (the Offering). Hemisphere issued 4,182,550 units, comprised of one common share and one half of one warrant of Hemisphere (together, the Units) at a price of $0.55 per Unit and 3,077,000 common shares to be issued on a "CEE flow-through" basis (the CEE Flow-Through Shares) at a price of $0.65 per CEE Flow-Through Share, for aggregate gross proceeds of $4,300,453. Each whole Warrant will entitle the holder to acquire one common share of Hemisphere at a price of $0.75 per common share expiring 12 months after the closing of the Offering. Hemisphere is an oil and gas exploration and production company focused on developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow. Fasken Martineau was counsel to Hemisphere with a team which included Mark Hawkins, Georald Ingborg, Prentice Durbin and Barinder Sidhu (securities) and Michael Coburn (tax).