"Not for distribution to United States wire services or dissemination in
the United States. This news release does not constitute an offer to
sell or a solicitation of an offer to buy any of the securities in the
United States. The securities 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 state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available".
TORONTO, Feb. 15, 2012 /CNW/ - Socius CG II Ltd. ("Socius") announced
that on February 10, 2012 it subscribed for units consisting of
13,353,038 ordinary shares ("Shares") and 6,676,519 ordinary share
purchase warrants ("Warrants") of Xcite Energy Limited (the "Company")
pursuant to a private placement (the "Offering").
Each whole Warrant entitles the holder to acquire one ordinary share of
the Company at an exercise price of £1.14 per share for a period of
three years from the date of issue.
After giving effect to the Offering, Socius owns 26,195,671 Shares
representing approximately 11.74%% of the total issued and outstanding
Shares. In addition, Socius holds securities that are exercisable by the Company
under certain conditions, into up to an additional 14,274,166 Shares,
or an additional 6.4% of the total issued an outstanding Shares,
calculated on a fully-exercised basis.
Socius has purchased these securities for investment purposes and may
increase or decrease the investment in these securities depending on
future market conditions.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE Socius CG II Ltd.
For further information:
Patricia Aguirre (310) 444-4346