/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, April 4, 2014 /CNW/ - Seven Generations Energy Ltd. ("7G" or
the "Company") announces the closing of a C$633 million secondary
offering of common shares by certain of its founding major shareholders
(the "Selling Shareholders") at a price of C$25.00 per share to a
group of institutional investors. The Selling Shareholders, which
consist of funds managed by ARC Financial, KERN Partners, Natural Gas
Partners and ZBI Ventures, continue to hold approximately 31% of the
common shares of the Company following the sale.
Pat Carlson, Chief Executive Officer, commented, "This transaction marks
the beginning of a transition of our shareholder base from our private
equity founders towards new public market focused institutional
investors as we begin to evaluate potential liquidity alternatives for
the Company. We would like to thank our founding major shareholders for
their past, and continued, support of our growth plans."
The Company did not receive any proceeds from the secondary offering.
This offering follows (and its terms were driven by) a C$251 million
treasury offering of common shares of Seven Generations, which closed
in December 2013 and which established the price of C$25.00 per share.
The secondary offering and the preceding treasury offering of common
shares were led by RBC Capital Markets and Peters & Co. Limited.
Seven Generations Energy Ltd. is a private oil and gas developer with
its corporate headquarters in Calgary, Alberta and its operations
headquarters in Grande Prairie, Alberta. 7G is engaged in the
delineation and development of its Kakwa River Project, a multi-zone,
tight, rich gas project in the Alberta Deep Basin, approximately 100km
south of Grande Prairie.
This press release is not an offer of the shares in the United States.
The shares have not and will not be registered under the U. S.
Securities Act of 1933, as amended (the "US Securities Act"). The
shares may not be offered or sold, except to accredited investors in
reliance on the exemption from registration provided by Regulation D
under the US Securities Act, or to persons outside the United States in
compliance with Regulation S and applicable Canadian exemptions. Any
public offering of securities made in the United States would be made
by means of a prospectus that would be obtainable from the Company and
that would contain detailed information about the Company, its
management and financial statements.
This press release may contain forward-looking information and
statements regarding the Company. Any statements included in this press
release that address activities, events or developments that the
Company "expects," "believes," "plans," "projects," "estimates" or
"anticipates" will or may occur in the future are forward-looking
statements. Estimates of reserves and resources are also
forward-looking statements. Actual results may differ materially due
to a variety of important factors. Among other items, such factors
might include: planned and unplanned capital expenditures; changes in
general economic conditions; uncertainties in reserve, resource and
production estimates; unanticipated recovery or production problems;
weather-related interference with business operations; the effects of
delays in completion of, or shut-ins of, gas and liquids gathering
systems, pipelines and processing facilities; potential costs
associated with complying with new or modified regulations; oil and
natural gas prices and competition; the impact of derivative positions;
production expense estimates; cash flow and cash flow estimates;
drilling and operating risks; our ability to replace oil and gas
reserves; volatility in the financial and credit markets or in oil and
natural gas prices. Except as required by law, the Company undertakes
no obligation to update forward-looking information if circumstances or
management's estimates or opinions should change. Do not place undue
reliance on forward-looking information.
SOURCE: Seven Generations Energy Ltd.
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