/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, July 12, 2012 /CNW/ - Cequence Energy Ltd. ("Cequence") (TSX: CQE) is pleased to announce that it has completed the issuance
and sale of an aggregate of 1,252,500 common shares at a price of $1.20
per share to a syndicate of underwriters led by Peters & Co. Limited
and including Cormark Securities Inc., National Bank Financial Inc.,
Stifel Nicolaus Canada Inc., Canaccord Genuity Corp., GMP Securities
L.P. and TD Securities Inc. (collectively, the "Underwriters") for gross proceeds of approximately $1.5 million. The common shares
were issued on the exercise of an over-allotment option which was
granted under the terms of an underwriting agreement between Cequence
and the Underwriters dated May 31, 2012. The net proceeds of this
equity sale will be initially applied to repay outstanding indebtedness
under Cequence's credit facilities.
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.
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 in this press release may include, but is
not limited to, information with respect to the use of proceeds from
the equity issuance 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. 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
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor
shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful. The common shares
to be 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 or to a U.S. person absent registration or an
applicable exemption from the registration requirements.
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