/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEWS SERVICES/
CALGARY, Jan. 2, 2013 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV: TMV) is pleased to announce that it has closed a non-brokered
private placement (the "Offering") of 300,000 flow-through units (the "Flow-Through Units") at a price of $0.25 per Flow-Through Unit for gross proceeds of
$75,000. Each Flow-Through Unit is comprised of one common share issued
on a Canadian Exploration Expense "flow-through" basis under the Income Tax Act (Canada) and one non-flow-through common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common
share of the Company at an exercise price of $0.50 per common share for
a period of 18 months following the date of issuance.
The gross proceeds of the Offering will be used to drill farm-in blocks
of land located in 3MV's west central Saskatchewan Viking oil play.
In connection with the Offering, the Company paid cash finder's fees of
$750 and issued 3,000 common shares of the Company.
3MV will continue to offer the Flow-Through Units for sale at a price of
$0.25 per Flow-Through Unit for gross proceeds of up to an aggregate of
$3,000,000. The Company may pay commissions or finder's fees in
connection with subsequent closings of this financing.
The Offering has been conditionally approved by the TSX Venture Exchange
("TSXV") and is subject to its final approval. According to TSXV rules and
applicable securities legislation, the securities issued pursuant to
the Offering are subject to a four-month and one day hold period,
commencing on the closing date and ending on May 1, 2013.
3MV is an oil and gas exploration and development company with assets
throughout west central Saskatchewan's Viking oil play.
The securities offered have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or applicable exemption
from the registration requirements. This news release does not
constitute an offer to sell or the solicitation of any offer to buy nor
will there be any sale of these securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such province, state or jurisdiction.
Certain statements in this news release constitute forward-looking
statements. The forward-looking statements contained in this document
are based on certain key expectations and assumptions made by 3MV.
Although 3MV believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because 3MV can
give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, the failure to obtain necessary regulatory approvals, risks
associated with the oil and gas industry in general (e.g., operational
risks in development, exploration and production; delays or changes in
plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production, costs and expenses,
and health, safety and environmental risks), commodity price and
exchange rate fluctuations and uncertainties resulting from potential
delays or changes in plans with respect to exploration or development
projects or capital expenditures. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional information on
these and other factors that could affect 3MV's operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the SEDAR
The forward-looking statements contained in this document are made as of
the date hereof and 3MV undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable securities laws.
Oil and Gas Disclosure
For the purpose of calculating unit costs, natural gas volumes have been
converted to a barrel of oil equivalent ("BOE") using six thousand cubic feet equal to one barrel unless otherwise
stated. A BOE conversion ratio of 6:1 is based upon an energy
equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead. BOEs may be
misleading, particularly if used in isolation.
Neither 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: 3MV Energy Inc.
For further information:
President & CEO
CFO, VP Finance