PRD Energy Inc. (TSXV:PRD) announced a private placement of 1,750,000 common shares at a price of CAD 1 per share for gross proceeds of CAD 1,750,000 on March 24, 2014. The transaction will include participation from Michael Greenwood, Chairman and Chief Executive Officer of the company, and other directors and officers of the company. The common shares issued will be subject to a four-month plus one day resale restriction from the closing date. The transaction is scheduled to close on or about March 27, 2014. The transaction is subject to the approval of the TSX Venture Exchange.

On March 27, 2014, PRD Energy Inc. closed the transaction. The company issued 1,850,000 common shares for gross proceeds of CAD 1,850,000. The round included participation from six placees. Michael G. Greenwood, Chairman and Chief Executive Officer of the company subscribed for 1,500,000 shares representing approximately 1.3% of the issued and outstanding common shares. Michael G. Greenwood now holds a total of 23,749,649 shares, representing 19.9% of the common shares as well as 2,000,000 options, and will hold 21.7% of the issued and outstanding common shares, assuming Greenwood were to exercise the options. Mark Hornett, President, Chief Operating Officer and Director of the company, Grant Fagerheim, Daryl H. Gilbert, James T. McCoy, and Kelsey Clark each subscribed for 50,000 shares, 100,000 shares, 100,000 shares, 50,000 shares, and 50,000 shares respectively. No finder's fee was paid.