Dalmac Energy Inc. - Proposed Private Placement of Units


EDMONTON, May 3, 2016 /CNW/ - Dalmac Energy Inc. ("Dalmac") (TSX Venture "DAL") is pleased to announce that further to its news release dated March 31, 2016, Dalmac has successfully closed its non-brokered private placement and issued 5,000,000 units of Dalmac (the "Units") at a price of $0.10 per Unit for gross proceeds of $500,000 (the "Private Placement").

Pursuant to the Private Placement, each Unit entitled the holder thereof to acquire, at no additional cost, one common share of Dalmac (a "Common Share") and one share purchase warrant of Dalmac (the "Warrants"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.15 per share for a period of eighteen months from the date hereof. Directors and officers of Dalmac acquired some of the Units.

The funds advanced to Dalmac pursuant to the Private Placement will be used for working capital, general corporate purposes and transaction expenses. In connection with the Private Placement, no finders, brokers or other agents are entitled to receive either Units or cash consideration.

The Private Placement is subject to the final approval of the TSX Venture Exchange.  

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements

This document contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "feels", "may", "will", "would", "believe", "plans", "intends", "possible", "future" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this document contains forward-looking information and statements pertaining to, among other things, the use of the proceeds from the private placement of Units.  This forward-looking information and the related statements are based upon factors, expectations and assumptions reflected in the forward-looking statements that are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

The forward-looking information and statements contained in this news release are based upon several material factors, expectations and assumptions of Dalmac including, without limitation: that Dalmac will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; availability of sources to fund Dalmac's capital and operating requirements as needed; and certain commodity price and other cost assumptions.

The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information and statements including, without limitation: general economic, market and business conditions; volatility in market prices for crude oil and natural gas; the ability of Dalmac's clients to explore for, develop and produce oil and gas; availability of financing and capital; the ability of Dalmac's customers to pay in a timely manner; changes in commodity prices; unanticipated operating results; changes in tax or environmental laws or royalty rates; limited, unfavourable or no access to debt or equity capital markets; increased costs and expenses; the impact of competitors; reliance on industry partners; circumstances may arise, including changes in accounting policies, regulations or economic conditions, which could change the assumptions, estimates or expectations or the information provided; shareholder value may not be maximized by Dalmac or at all; there may be circumstances where, for unforeseen reasons, a reallocation of funds may be necessary as may be determined at the discretion of Dalmac and there can be no assurance as at the date of this disclosure as to how those funds may be reallocated; should any one of a number of issues arise, Dalmac may find it necessary to alter its current business strategy and/or capital expenditure program; fluctuations in interest rates; demand for Dalmac's product and services; adverse conditions in the debt and equity markets; and government actions including changes in environment and other regulation; and certain other risks detailed from time to time in Dalmac's public disclosure documents including, without limitation, those risks identified in this document. 

The forward-looking information and statements contained in this document speak only as of the date of this document, and Dalmac does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.

SOURCE Dalmac Energy Inc.

For further information: please contact John Babic, at (780) 988-8510, by fax at (780) 988-8512, or by e-mail at jbabic@dalmacenergy.com.

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