DualEx Announces Pricing of Previously Announced Public Offering

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, March 13, 2013 /CNW/ - DualEx Energy International Inc. ("DualEx" or the "Corporation") (TSX-V : DXE), is pleased to announce that it has set the pricing and final terms for its previously announced marketed public offering of units of the Corporation ("Units") for minimum gross proceeds of $1,500,000 and maximum gross proceeds of $3,000,000 (the "Offering").  In connection with the Offering, the Corporation will issue and sell a minimum of 10,000,000 Units at a price of $0.15 per Unit and a maximum of 20,000,000 Units.  The Offering is being lead by Beacon Securities Limited (together with PI Financial Corp. and Maison Placements Canada, the "Agents").

Each Unit will be comprised of one common share of the Corporation ("Common Share") and one Common Share purchase warrant ("Warrant").  Each Warrant will entitle the holder thereof to purchase one Common Share at any time prior to 5:00 p.m. (Calgary Time) on or before the earlier of the date that is:  (a) two years from the completion of the Offering; and (b) 30 days after the giving of notice of early termination by DualEx. Such notice may be given by DualEx, in its sole discretion, if the volume-weighted average price of the Common Shares on the TSX Venture Exchange exceeds the Warrant exercise price by at least 200% for a minimum of 10 consecutive trading days (whether or not trading of Common Shares occurs on all such days, provided that the Common Shares trade on at least five of such trading days). The exercise price of the Warrants will be $0.18 per Common Share.

In addition, the Corporation has granted the Agents an over-allotment option equal to 15% of the number of Units sold by the Corporation to cover over-allotments and for market stabilization purposes, exercisable at any time up to 15 days after the closing of the Offering.

The Corporation will use net proceeds of the Minimum Offering to record a 47 km2 of 3D seismic data on the KT Block of the Corporation's Bouhajla exploration block located onshore in the Pelagian Basin of east central Tunisia.  If the Maximum Offering is completed, the additional net proceeds will be used to test the BHN-1 well that will be drilled on the Corporation's Bouhajla exploration block and for general working capital purposes.

Closing of the Offering is subject to certain conditions, including final due diligence and regulatory approval, including approval of the TSX Venture Exchange.

A preliminary prospectus containing important information relating to the Offering has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada.  The preliminary prospectus is still subject to completion or amendment.  Copies of the preliminary prospectus may be obtained from:

Beacon Securities Limited         DualEx Energy International Inc.
Kirk Wilson, MD Investment Banking         Lorne Morozoff, VP, Finance and CFO
2030, 355 - 4th Avenue SW         200, 521 - 3rd Avenue SW
Calgary, Alberta, Canada T2P 0J1         Calgary, Alberta, Canada T2P 3T3
Tel : (587) 350-6576         Tel : (403) 265-8011 ext. 222
Email: kwilson@beaconsecurities.ca         Email: lmorozoff@dualexen.com


or either of the agents listed above. Additionally, it is available electronically at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the (final) prospectus has been issued.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.

DualEx Energy International Inc. is an oil and gas exploration and production company with operations in Tunisia and Hungary. DualEx's common shares trade on the TSX Venture Exchange under the symbol "DXE".

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "schedule", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning DualEx's future operations.  The forward-looking statements and information are based on certain key expectations and assumptions made by DualEx, including expectations and assumptions concerning equipment and crew availability and joint venture partner financial capability. Although DualEx believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because DualEx can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause DualEx's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions.  Additional information on these and other factors is available in continuous disclosure materials filed by DualEx with Canadian securities regulators.  Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. DualEx undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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. 

SOURCE: DualEx Energy International Inc.

For further information:

Garry Hides, President & CEO
DualEx Energy International Inc.
200, 521 - 3rd Avenue SW
Calgary, Alberta, Canada T2P 3T3
Tel: (403) 265-8011 ext. 223
www.dualexen.com 

Jeremy Dietz
Investor Relations, The Equicom Group
300 - 5th Avenue SW, 10th Floor 
Calgary, Alberta, Canada T2P 3C4
Tel: (403) 218-2833
jdietz@equicomgroup.com

Profil de l'entreprise

DualEx Energy International Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.