CALGARY, Nov. 15, 2012 /CNW/ - Cequence Energy Ltd. ("Cequence")
(TSX:CQE) is pleased to announce that, due to excess demand, Cequence
has agreed with a syndicate of underwriters led by Peters & Co. Limited
and including Cormark Securities Inc., CIBC World Markets Inc., GMP
Securities L.P., National Bank Financial Inc. and Stifel Nicolaus
Canada Inc. to increase the number of shares to be issued pursuant to
the proposed short form prospectus offering announced earlier today.
Cequence will now issue an aggregate of 8,560,000 common shares on a
CEE "flow-through" basis pursuant to the Income Tax Act (Canada) at a price of $1.87 per share, for aggregate gross proceeds of
approximately $16.0 million. Cequence intends to use the additional
proceeds to incur eligible Canadian exploration expenses.
In all other respects the terms of the financing will remain as
previously disclosed in the earlier press release.
Cequence is a publicly traded Canadian energy company involved in the
acquisition, exploitation, exploration, development and production of
natural gas and crude oil in western Canada. Further information about
Cequence may be found in its continuous disclosure documents filed with
Canadian securities regulators at www.sedar.com.
Forward Looking Information
Certain information included in this press release constitutes
forward-looking information under applicable securities legislation.
Such forward-looking information is provided for the purpose of
providing information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as making
investment decisions. Forward-looking information typically contains
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking information and statements in this press release may
include, but are not limited to, information with respect to:
operational decisions and the timing thereof, development and
exploration plans and the timing thereof; future production levels;
timing for completion of the financing, and the plans for the use of
proceeds from the financing. Forward-looking information is based on a
number of factors and assumptions which have been used to develop such
information but which may prove to be incorrect. Although Cequence
believes that the expectations reflected in its forward-looking
information is reasonable, undue reliance should not be placed on
forward-looking information because Cequence cannot give assurance that
such expectations will prove to be correct. In addition to other
factors and assumptions which may be identified in this press release,
assumptions have been made regarding and are implicit in, among other
things: reserves; field production rates and decline rates; the ability
of Cequence to secure adequate product transportation; the timely
receipt of any required regulatory approvals; the ability of Cequence
to obtain qualified staff, equipment and services in a timely and cost
efficient manner to develop its business; the ability of the operator
of the projects in which Cequence has an interest in to operate the
properties in a safe, efficient and effective manner; the ability of
Cequence to obtain financing on acceptable terms; the ability to
replace and expand oil and natural gas reserves through acquisition,
development of exploration; the timing and costs of pipeline, storage
and facility construction and expansion; future oil and natural gas
prices; currency, exchange and interest rates; the regulatory framework
regarding royalties, taxes and environmental matters; and the ability
of Cequence to successfully market its oil and natural gas products.
Readers are cautioned that the foregoing list is not exhaustive of all
factors and assumptions which have been used.
Forward-looking information is based on current expectations, estimates
and projections that involve a number of risks and uncertainties which
could cause actual results to differ materially from those anticipated
by Cequence and described in the forward-looking information. The
material risk factors affecting Cequence and its business are contained
in Cequence's Annual Information Form which is available under
Cequence's issuer profile on SEDAR at www.sedar.com. The
forward-looking information contained in this press release is made as
of the date hereof and Cequence undertakes no obligation to update
publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise, unless required by
applicable securities laws. The forward looking information contained
in this press release is expressly qualified by this cautionary
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release.
SOURCE: Cequence Energy Ltd.
For further information:
Paul Wanklyn, President & CEO, (403) 218-8850, email@example.com
David Gillis, VP Finance & CFO, (403) 806-4041, firstname.lastname@example.org