CIC Energy states discussions with potential strategic partners remain ongoing
ROAD TOWN, Tortola, British Virgin Islands, Feb. 9, 2012 /CNW/ - At the request of IIROC, on behalf of the Toronto Stock Exchange, CIC Energy Corp. ("CIC Energy" or the "Company") (TSX:ELC, BSE:CIC Energy) announces (further to its news release dated December 9, 2011) that discussions with potential strategic investors, with a view to the acquisition of a minority position in the Company, remain ongoing.
However, no assurances can be given that the Company will enter into or conclude negotiations with any strategic investor.
About CIC Energy Corp.
CIC Energy Corp. is engaged in the advancement of the Mmamabula Energy Complex at the Mmamabula Coal Field in Botswana, Africa. This planned Complex consists of an Export Coal Project, one or more Power Projects, and a potential Coal-to-Hydrocarbons Project.
CIC Energy has a treasury of approximately CDN$9 million and has 52,748,969 shares outstanding and 70,695,417 shares fully diluted including 13,061,448 warrants which have not vested. CIC Energy is listed on the Toronto Stock Exchange (TSX:ELC) and the Botswana Stock Exchange (BSE:CIC Energy).
For further information:
For additional information on CIC Energy and its projects visit the Company's website at www.cicenergycorp.com or contact:
Erica Belling, CFA, P.Eng.
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243