CALGARY, Sept. 1, 2011 /CNW/ - Base Oil and Gas Ltd. ("Base" or the "Company") is pleased to announce that it has received a receipt dated September
1, 2011 (the "Receipt") for the (final) short form prospectus of the Company dated August 31,
2011 (the "Final Prospectus") filed with the securities regulatory authorities in the provinces of
Alberta, British Columbia, Manitoba, Ontario and Saskatchewan with
respect to the qualification of the distribution of 51,111,750 common
shares in the capital of Base ("Common Shares") issuable pursuant to the exercise of 51,111,750 special warrants ("Special Warrants") previously issued by Base pursuant to a private placement completed
on August 31, 2011 (the "Offering"). The Offering was led by Dundee Securities Ltd. and included Casimir
Capital Ltd., Macquarie Capital Markets Canada Ltd., and NCP Northland
Capital Partners Inc., as agents. For details regarding the Offering
and the Special Warrants, please refer to the Company's news releases
dated August 10, 2011 and August 31, 2011, which are available under
the Company's profile on SEDAR at www.sedar.com.
In accordance with terms of the indenture governing the Special
Warrants, each Special Warrant will entitle the holder thereof to
receive one Common Share on the exercise or deemed exercise of the
Special Warrant. All unexercised Special Warrants will be deemed
exercised without further action on the part of the holder on September
2, 2011, being the first business day following the date of the
Receipt. The Common Shares issued pursuant to the deemed exercise of
the Special Warrants will be freely trading Common Shares.
Following the exercise of the Special Warrants, Base will have
96,063,630 Common Shares issued and outstanding.
Copies of the Final Prospectus may be obtained from Mr. Roy Evans, the
Chief Financial Officer of the Company, at Suite 640, 910 - 7th Avenue
S.W., Calgary, Alberta T2P 3N8, telephone (403) 384-0000, and is also
available electronically at www.sedar.com.
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 press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
Base Oil and Gas Ltd. is a Calgary-based emerging junior oil and gas
company currently focused on high netback oil production in southern
and east central Alberta.
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 Press
SOURCE Base Oil
For further information:
Base Oil & Gas Ltd.
President & CEO
Roy Evans, C.A.
Vice President, Finance & CFO
or visit the Company's website at www.baseoilandgas.ca