Oryx Petroleum Corporation Limited Announces Completion of CAD$223,987,500 Common Share Offering
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CALGARY, July 18, 2014 /CNW/ - Oryx Petroleum Corporation Limited ("Oryx Petroleum") (TSX: OXC) announced today that it has successfully completed an offering (the "Offering") of 19,910,000 common shares of Oryx Petroleum ("Common Shares") at a price of CAD$11.25 per Common Share for gross proceeds of CAD$223,987,500.
The Common Shares trade on the Toronto Stock Exchange under the symbol "OXC". Upon closing of the Offering there are 119,812,824 Common Shares issued and outstanding.
AOG Upstream BV, an affiliate of The Addax and Oryx Group PLC ("AOG"), acquired 14,210,000 of the Common Shares under the Offering pursuant to a subscription agreement dated July 11, 2014 at the price of C$11.25 per Common Share. AOG and its affiliates, through direct and indirect ownership, remain the majority shareholder of Oryx Petroleum and beneficially own, control or direct 90,859,012 Common Shares representing approximately 75.3% of the Common Shares on a fully diluted basis.
The Offering was underwritten by a syndicate of underwriters (collectively, the "Underwriters") led by BMO Capital Markets and Citigroup Global Markets Canada Inc., as global co-ordinators and bookrunners, and Merrill Lynch Canada Inc., RBC Capital Markets and Scotia Capital Inc., as joint bookrunners, and FirstEnergy Capital Corp.
ABOUT ORYX PETROLEUM CORPORATION LIMITED
Oryx Petroleum is an international oil exploration and production company focused in Africa and the Middle East. The Corporation's shares are listed on the Toronto Stock Exchange under the symbol "OXC". The Oryx Petroleum group of companies was founded in 2010 by The Addax and Oryx Group Limited and key members of the former senior management team of Addax Petroleum Corporation. Oryx Petroleum has interests in six license areas, two of which have yielded oil discoveries and four of which are prospective for oil. The Corporation is the operator or technical partner in four of the six license areas. Two license areas are located in the Kurdistan Region and the Wasit governorate (province) of Iraq and four license areas are located in West Africa in Nigeria, the AGC administrative area offshore Senegal and Guinea Bissau, and Congo (Brazzaville). Further information about Oryx Petroleum is available at www.oryxpetroleum.com or under Oryx Petroleum's profile at www.sedar.com.
ABOUT THE ADDAX AND ORYX GROUP PLC
The Addax and Oryx Group Limited was incorporated in 1987, with a focus on energy in Africa, and has evolved into a diversified investment group, known simply as AOG. AOG invests in three key areas: energy, commercial real estate and other capital investments. AOG's energy investments include: (i) Oryx Petroleum; (ii) an integrated trading and downstream platform, Oryx Energies, active in petroleum and refined products trading, refined products storage and distribution, and specialized products/services including LPG, lubricants, bitumen and bunkering, across sub-Saharan Africa; and (iii) Addax Bioenergy, a company developing a greenfield project to produce sugarcane bioethanol and "green" electricity from the biomass in Sierra Leone. AOG's real estate arm, AOG Real Estate, invests in commercial real estate properties in Western Europe and North America either directly, with partners or via specialized private equity funds. AOG Capital Investment focuses on generating higher returns than real estate, mainly through selected funds focusing on its preferred sectors and/or countries.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or sale would be unlawful.
Reader Advisory Regarding Forward-Looking Statements
Certain statements made herein contain forward-looking information, including statements concerning the Oryx Petroleum's budget and Oryx Petroleum's expectations regarding the use of existing capital and the proceeds of the Offering, its ability to develop reserves and resources and to add reserves and resources through exploration, acquisitions and development, the amount nature, timing and effects of Oryx Petroleum's capital expenditures and future development plans, Oryx Petroleum's operating and other costs and expenses, and the use of proceeds of the Offering. Although Oryx Petroleum believes these statements to be reasonable, the assumptions upon which they are based may prove to be incorrect. For more information about these assumptions and risks facing the Corporation, refer to the Corporation's annual information form dated March 12, 2014 available at www.sedar.com or the Corporation's website, www.oryxpetroleum.com. Furthermore, the forward-looking statements contained in this press release are made as at the date of this press release and Oryx Petroleum does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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