Dakota Plains Announces Closing Of Registered Direct Offering Of Common Stock

Dec 16, 2013, 11:37 ET from Dakota Plains Holdings, Inc.

WAYZATA, Minn., Dec. 16, 2013 /PRNewswire/ -- Dakota Plains Holdings, Inc. ("Dakota Plains") (OTCQB: DAKP) today announced the closing of its previously announced registered direct offering of 7,000,000 shares of its common stock at a price to the public of $2.15 per share. Dakota Plains received net proceeds of approximately $14.1 million from the offering, after deducting placement agent fees but before paying offering expenses. Dakota Plains intends to use the net proceeds from the offering to repay a portion of its outstanding indebtedness and for other general corporate purposes.

Canaccord Genuity Inc. acted as lead placement agent for the offering. Northland Capital Markets acted as co-placement agent for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, Telephone: (617) 371-3900.

About Dakota Plains Holdings, Inc.
Dakota Plains is an integrated midstream energy company, which competes through its 50/50 joint ventures to provide customers with crude oil offtake services that include marketing, transloading and trucking of crude oil and related products.  Direct and indirect assets include a proprietary trucking fleet, over 1,000 railroad tank cars, and the Pioneer Terminal transloading facility centrally located in Mountrail County, North Dakota, for Bakken- and Three Forks-related E&P activity.  For more information, please visit the corporate website:  www.dakotaplains.com.

For more information, please contact:
Tim Brady, CFO
Phone: 952.473.9950

SOURCE Dakota Plains Holdings, Inc.