/NOT FOR DISTRIBUTION TO NEWSWIRE SERVICES OR FOR DISSEMINATION OUTSIDE
CALGARY, Dec. 2, 2013 /CNW/ - Caracal Energy Inc. ("Caracal" or the
"Company"), (LSE:CRCL) is pleased to announce that as at 9.30 a.m.
(Toronto time) on November 29, 2013 (being the latest time for receipt
of valid acceptances), it had received valid acceptances in respect of
3,290,840 new common shares in the capital of the Company (each a "New
Share"), representing approximately 14.9% of the total number of New
Shares offered to the Company's shareholders pursuant to the Canadian
Open Offer and the Global Open Offer.
In accordance with the arrangements described in the Prospectus
Supplement dated November 8, 2013 under Caracal's Short Form Base Shelf
Prospectus dated October 24, 2013 (the "Prospectus"), the Canadian
Conditional Placees and the Global Conditional Placees will subscribe
in aggregate for an additional 18,789,274 New Shares representing the
balance of the New Shares not validly taken up by shareholders pursuant
to the Canadian Open Offer and the Global Open Offer.
It is expected that Open Offer Admission will become effective, and that
dealings on the London Stock Exchange in the New Shares will commence,
from 8.00 a.m. (London time) on December 5, 2013.
All terms in this announcement have the meanings given to them in the
Prospectus unless otherwise defined.
About Caracal Energy Inc.
Based in Canada, Caracal Energy Inc. is an international exploration and
development company focused on oil and gas exploration, development and
production activities in the Republic of Chad, Africa. In 2011, the
Company entered into three production sharing contracts from the
government of the Republic of Chad.
This news release contains forward-looking statements. When used in this
news release, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "seek", "propose", "estimate",
"expect", and similar expressions, as they relate to Caracal or an
affiliate of Caracal, are intended to identify forward-looking
statements. In particular, this news release contains forward-looking
statements with respect to, among other things, the Open Offer
Admission. These 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
statements. Such statements reflect Caracal's current views with
respect to future events based on certain material factors and
assumptions and are subject to certain risks and uncertainties,
including without limitation, changes in market, competition,
governmental or regulatory developments, general economic conditions
and other factors set out in Caracal's public disclosure documents.
Many factors could cause Caracal's actual results, performance or
achievements to vary from those described in this news release,
including without limitation those listed above. These factors should
not be construed as exhaustive. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying
forward-looking statements prove incorrect, actual results may vary
materially from those described in this news release as intended,
planned, anticipated, believed, sought, proposed, estimated or
expected, and such forward-looking statements included in this news
release, should not be unduly relied upon. Such statements speak only
as of the date of this news release. Caracal does not intend, and does
not assume any obligation, to update these forward-looking statements
except as required by law. The forward-looking statements contained in
this news release are expressly qualified by this cautionary statement.
SOURCE: Caracal Energy Inc.
For further information:
Caracal Energy Inc.
Gary Guidry, President and Chief Executive Officer
Trevor Peters, Chief Financial Officer
Longview Communications - Canadian Media Enquiries