/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
CALGARY, May 2, 2014 /CNW/ - Marquee Energy Ltd. ("Marquee") (TSX-V: MQL) is pleased to announce that it has closed its previously
announced bought deal financing of 22,115,650 common shares, including
the 15% over-allotment option of 2,884,650 common shares in the capital
of Marquee ("Common Shares") at a price of $0.91 per Common Share for total gross proceeds of
$20,125,242 (the "Offering").
The Offering was conducted through a syndicate of underwriters co-led by
National Bank Financial Inc. and Haywood Securities Inc. and included
Acumen Capital Finance Partners Limited, Peters & Co. Limited,
Canaccord Genuity Corp. and FirstEnergy Capital Corp.
The net proceeds from the Offering will be used by Marquee initially to
reduce bank indebtedness and thereafter to partially fund Marquee's
continuing capital program and for general corporate purposes.
About Marquee Energy Ltd.
Marquee Energy Ltd. is a publicly traded Calgary-based growth oriented
junior oil and gas company currently focused on high rate of return oil
development and production. Marquee is committed to growing the company
through exploitation of existing opportunities and continued
consolidation within its core area at Michichi. Additional information
about Marquee may be found on its website www.marquee-energy.com and in its continuous disclosure documents filed with Canadian
securities regulators at www.sedar.com.
Forward-looking statements or 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 in this press release may include, but is
not limited to, information with respect to the use of proceeds.
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 Marquee believes that the
expectations reflected in such forward-looking information are
reasonable, undue reliance should not be placed on forward-looking
information because Marquee 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
Marquee's ability to satisfy all regulatory conditions to the offering.
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 Marquee and described in the forward-looking information. These
include, but are not limited to, the failure to obtain necessary
regulatory approvals and risks associated with Marquee's business and
the oil and gas industry in general. The material risk factors
affecting Marquee and its business are set out in further detail in
Marquee's Annual Information Form, which is available at SEDAR at www.sedar.com.
The forward-looking information contained in this press release is made
as of the date hereof and Marquee does not undertake any 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
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 release.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within
the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE: Marquee Energy Ltd.
For further information:
Marquee Energy Ltd.
Richard Thompson, President and Chief Executive Officer
Roy Evans, Vice President, Finance and Chief Financial officer
Or view our website at www.marquee-energy.com