ENP Newswire -
Release date- 29072014 -
The Offering is for aggregate gross proceeds of up to
The completion of the Offering is expected to occur on or about
The Agents shall be paid a fee equal to 6.0% of the gross proceeds of the Offering.
The Company will initially use the proceeds from the Offering of Common Shares to fund a four well drilling program on the Company's core area found in Block A and Block H.
In addition, a portion of the proceeds of the proposed financing will fund the Company's ongoing capital program, inclusive of surface facilities and for general and corporate purposes and, in the case of the Offering of Flow-Through Common Shares, to incur 'Canadian Exploration Expenses' (as defined in the Income Tax Act (
The Common Shares and the Flow-Through Shares will be sold on a private placement basis pursuant to exemptions from the prospectus requirements to purchasers in
The Common Shares and the Flow-Through Shares may also be sold outside of
The completion of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals including the approval of the
Tel: (403) 454-5565
Tel: (604) 687-1779
Forward-looking Statements and Information
This news release contains certain 'forward-looking statements' or 'forward-looking information' (collectively referred to herein as 'forward-looking statements') within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur or be achieved.
This news release contains forward-looking statements, pertaining to, among other things, the following: the amount of, terms and use of proceeds, receipt of regulatory approval from the
These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in
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