3MV Energy Announces Proposed Equity Financings


CALGARY, June 1, 2012 /CNW/ - 3MV Energy Corp. ("3MV" of the "Corporation") (TSXV: TMV) announces it is planning to raise up to $15 million by way of several equity private placements to be structured and priced in the context of the market and is in discussions with registered dealers.  The net proceeds of the proposed equity private placements will be used for well drilling, field development, working capital purposes and debt reduction.

The proposed private placements are subject to the approval of the TSX Venture Exchange.  Any securities issued pursuant to the private placements will be subject to a four-month hold period from closing, in accordance with applicable securities laws.

The Corporation may pay cash commissions or fees and issue broker warrants to eligible persons in connection with the proposed private placements, subject to compliance with applicable securities laws.

About 3MV

3MV is an oil and gas exploration and development company with assets throughout west central Saskatchewan's Viking oil play, including its most recent discovery and oil pool development near Fiske, which is located 60 kilometers east of Kindersley, SK.  3MV intends to focus its drilling and production efforts on its Fiske light oil discovery. With 36 net sections of land subject to a farmout agreement (of which the Company has earned and participated in 2.65 net sections) and another section (crown lease) owned by 3MV, and a recent 19.9 km² 3D seismic program, 3MV has identified and licensed 20 future drilling locations, eight of which the Corporation considers to be infill locations. The Corporation's recent success in the play, with three wells producing over 100 boe/d during the first 30 days of production, has led to significant reserves additions in the area.  3MV intends to build off that momentum as quickly as is practicable with additional capital raised in the upcoming periods.

Forward-Looking Statements

Certain statements in this news release constitute forward-looking statements. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by 3MV. Although 3MV believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because 3MV can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Readers are cautioned that the foregoing list of factors is not exhaustive.  Additional information on these and other factors that could affect 3MV's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

The forward-looking statements contained in this document are made as of the date hereof and 3MV undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither 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.

The securities 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 absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

This news release is not for dissemination in the United States or to any United States news services.

SOURCE 3MV Energy Inc.

For further information:

Curtis Schoenfeld
President & CEO
(403) 234-8998


Brian Radiff
VP, Corporate Development
(403) 817-0676

Profil de l'entreprise

3MV Energy Inc.

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