Anatolia Energy Announces Pricing of Short Form Prospectus Offering
/NOT FOR DISSEMINATION IN THE UNITED STATES. A FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, July 10, 2012 /CNW/ - Anatolia Energy Corp. (the "Company" or "Anatolia") (TSXV: AEE) is pleased to announce that it has priced its previously announced short form prospectus offering (the "Offering") of units (the "Units") at a price of $0.10 per Unit. Pursuant to the Offering, the minimum gross proceeds to be raised will be $5,000,000 through the issuance of 50,000,000 Units (the "Minimum Offering") and the maximum gross proceeds to be raised will be $6,000,000 through the issuance of 60,000,000 Units (the "Maximum Offering"). Each Unit will be comprised of one common share (the "Common Shares") and one Common Share purchase warrant (the "Warrants"). Each Warrant shall have a term of 36 months following the closing (the "Closing") of the Offering and will be exercisable at $0.15 per Common Share.
If at any time after the Closing of the Offering, the volume weighted average trading price of the Common Shares of the Company is greater than $0.45 per share for 30 consecutive trading days, the Company may give written notice to warrant holders that the Warrants will expire 30 calendar days after the date of such notice.
The Company has filed a preliminary short form prospectus with the securities regulatory authorities in Ontario, British Columbia, Saskatchewan, Manitoba and Alberta, in connection with a fully marketed public Offering. The Offering will be conducted on a best-efforts agency basis, with Mackie Research Capital Corporation acting as lead agent and including Toll Cross Securities Inc., Cormark Securities Inc. and Haywood Securities Inc. (collectively, the "Agents").
The Agents shall also have the option (the "Agents' Option") to offer for sale that number of additional Units as is equal to 15% of the number of Units issued pursuant to the Offering. The Agents' Option shall be exercisable, in whole or in part, at the discretion of the Agents, for a period of 30 days following the Closing.
In consideration for their services, the Agents will receive a cash commission of 7% of the gross proceeds from the Offering and compensation options to acquire 5% of the total number of Units sold in connection with the Offering, exercisable up to 18 months from Closing at $0.10 per Unit.
The Company intends to use the net proceeds from the Offering to advance its shale development and exploration activities on its Turkish licences, and for general corporate and working capital purposes.
The Closing is subject to certain customary conditions including, but not limited to, the execution of a definitive agency agreement and the receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. Closing is expected to occur on or about the week of July 16, 2012.
This press release shall not constitute an offer of securities for sale in the United States. The securities referred to in this press release have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration.
About Anatolia Energy Corp.
Anatolia is an international oil and gas company engaged in the exploration and development of oil and gas assets in Turkey. Anatolia has the right, pursuant to its joint venture agreements with Çalık Enerji San. ve Tic. AŞ., the wholly-owned oil and gas subsidiary of the large Turkish conglomerate Çalık Holding A.Ş., to earn working interests between 25% and 50% in two development licences and working interests 50% in nine exploration licences covering 1,162,856 gross acres of land in Turkey's proven Southeastern oil basin. Anatolia is focused on four play types in Turkey namely the Silurian Dadas shale oil trend, Paleozoic Bedinan sand trend, Cretaceous Mardin strike slip trend and Garzan reef trend. The Dadas formation in southeast Turkey is an extension of the prolific Silurian source rocks of the Middle East.
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: ultimate economic viability of the Dadas Shale, operational decisions and the timing thereof, and timing for drilling and exploration plans on the properties of Anatolia. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although Anatolia believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Anatolia can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Anatolia undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. For further information on the Company and the risks associated with its business, please see the Company's AIF dated June 4, 2012, which is available on SEDAR. The reader is cautioned not to place undue reliance on this forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Peter Argiris, VP Business Development
Anatolia Energy Corp.
403.802.0770 ext. 225