News Column

NiMin Energy Corp. Announces 2012 Fourth Quarter and Year-End Results

Mar 11 2013 12:00AM

Marketwire

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CARPINTERIA, CALIFORNIA -- (Marketwire) -- 03/11/13 -- NiMin Energy Corp. (TSX VENTURE: NNN.H)(OTCBB: NEYYF)(OTCQX: NEYYF) (the "Company" or "NiMin") today announced the financial results prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") for the year ended December 31, 2012. Copies of these documents may be obtained via the Company's website at www.niminenergy.com and via SEDAR at www.sedar.com. Additionally, we also filed reports with the United States Securities and Exchange Commission ("SEC") available at www.sec.gov. All references to dollar values refer to U.S. dollars unless otherwise stated.

For the quarter ended December 31, 2012, the Company incurred a total net decrease to net assets of $70.9 million. This was primarily attributable to the $70.5 million distribution payment to Shareholders in October 2012, and $0.4 million of adjustments to accrued liquidation related expenses associated with the dissolution and wind up of the Company. The Company plans to distribute the remaining estimated cash balance of $7.8 million or $0.11 per common share to Shareholders in connection with the dissolution of the Company.

About NiMin Energy

NiMin is an Alberta Corporation currently in the liquidation and dissolution process. Further information regarding the liquidation and dissolution of the Company.

Cautionary Statements

This news release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable securities laws, including the distribution of the remaining estimated cash balance. Although NiMin believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based upon currently available information to NiMin. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in forward-looking statements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in more detail in our Annual Information Form and other documents available at www.sedar.com and www.sec.gov. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release, and, except as required by applicable law, NiMin does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. NiMin undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of NiMin, its financial or operating results or, securities.



Contacts:
NiMin Energy Corp.
Jonathan Wimbish, CFA
Chief Financial Officer
+1 (805) 566-2900
jwimbish@niminenergy.com
www.niminenergy.com





Source: Marketwire


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