Aroway Energy Inc. (TSXV:ARW) announced a brokered private placement of units for gross proceeds of CAD 6,000,000 on November 19, 2012. The company will issue flow-through units at CAD 0.55 per unit. Each flow-through unit will consist of one flow through common share and one half flow-through warrant. Each such warrant will entitle the holder to purchase one non flow-through common share at CAD 0.65 per share for a period of 12 months from the date of issue. The company will issue non flow-through units at CAD 0.50 per unit. Each such unit will consist of one common share and one warrant. Each such warrant will entitle the holder to purchase one common share at CAD 0.60 per share for a period of 12 months from closing. Secutor Capital Management Corp. will act as an agent to the company. The company will pay a fee equal to 7% of the gross proceeds and issue non-transferable compensation options equivalent to 7% of the total units sold. Each such option will entitle the holder to purchase one common share at CAD 0.50 per share for a period of 12 months from issue. Insiders of the company may participate in the transaction. The securities issued are subject to a four months and a day hold period from the date of closing.

On December 5, 2012, the company closed the first tranche of the transaction. The company issued 6,043,981 flow-through units and 1,352,000 non flow-through units for total gross proceeds of CAD 4,000,190. The warrants issued under this tranche will expire on December 4, 2013. Secutor Capital Management Corporation and Marquest Capital Markets acted as the placement agents and received a fee equal to CAD 280,013.3. Each compensation option is exercisable at CAD 0.50 per share and will expire on December 4, 2013. The securities issued under this tranche are subject to a hold period expiring on April 5, 2013.

On December 12, 2012, the company announced TSX Venture Exchange has accepted for filing documentation. The transaction involves participation from 69 placees in its first tranche. Chris Cooper, Alan Young, James Roger, Chester C. Kmiec, and Scott MacDonald each subscribed for 400,000 non-flow through units, 35,000 flow through units, 96,000 flow through units, 55,000 flow through units, and 20,000 flow through units. Marquest Asset Management Inc, Secutor Capital Management Corporation, Canaccord Genuity Corp, Macquarie Private Wealth Inc, Leede Financial Markets Inc, Fin-XO Securities Inc, Jennings Capital Inc, Accilent Capital Management Inc, Redplug Capital Corp, CIBC, PI Financial Corp, Wolverton Securities Ltd, Haywood Securities Inc, and Raymond James Ltd each received CAD 73,403 and 75,307 options, CAD 77,403 and 145,307 options, CAD 7,205 and 1,200 options, 27,788.43 and 49,500 options, CAD 20,865 and 34,500 options, CAD 5,721 and 10,500 options, CAD 44,999.99 and 81,818,CAD 3,503.50 and 6,370 options, CAD 32,076 and 99,216, CAD 385,CAD 192.50,CAD 385, CAD 350, and CAD 4,235 respectively as finder's fee.

On December 20, 2012, TSX Venture Exchange accepted for filing documentation with respect to the second and final tranche of the transaction. The company will issue 381,500 flow-through units and 20,000 non flow-through units to six placees for gross proceeds of CAD 219,825. The company will pay finders' fees of CAD 6,043.88 and will issue 18,105 options to Secutor Capital Management Corporation, CAD 346.50 to Leede Financial Markets Inc., CAD 1,925 to RBC Dominion Securities, and CAD 1,572.38 to Canaccord Genuity Corp.

On December 20, 2012, Aroway Energy Inc. closed the transaction. The warrants issued under the second and the final tranche will expire on December 4, 2013. Each compensation option issued under this tranche will mature on December 21, 2013. The securities issued under the second tranche are subject to a hold period expiring on April 22, 2013.