Adira Expects Gross Proceeds of $15million from Public Offering of Common Shares

Adira Energy Ltd.(TSXV:ADL) announced the filing of a short form prospectus on its fully marketed public offering of common shares. Adira expects the gross proceeds of the offering to amount to $15 million and the closure to take place on April 25, 2012.

As quoted in the press release:

The Company expects that gross proceeds of the Offering will be approximately C$15 million, however the final terms of the Offering, including size and price, will be determined in the context of the market.

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