/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
CALGARY, June 20, 2012 /CNW/ - Cequence Energy Ltd. ("Cequence") (TSX:
CQE) is pleased to announce that it has closed its previously announced
short form prospectus offering of: (i) 11,683,500 common shares at a
price of $1.20 per common share, (ii) 4,850,000 common shares which
were issued on a "CEE flow-through" basis at a price of $1.45 per
share, and (iii) 3,800,000 common shares which were issued on a "CDE
flow-through" basis at a price of $1.32 per share, for aggregate gross
proceeds of $26.1 million. The offering was conducted through a
syndicate of underwriters that was led by Peters & Co. Limited and
included Cormark Securities Inc., National Bank Financial Inc., Stifel
Nicolaus Canada Inc., Canaccord Genuity Corp., GMP Securities L.P. and
TD Securities Inc.
Cequence's previously announced bought deal private placement of
8,333,333 common shares at a price of $1.20 per share for aggregate
gross proceeds of $10 million is currently scheduled to close on June
The aggregate net proceeds of the equity financings will be initially
applied to repay outstanding indebtedness under Cequence's credit
Cequence is a publicly traded Canadian energy company involved in the
acquisition, exploitation, exploration, development and production of
natural gas and crude oil in western Canada. Further information about
Cequence may be found in its continuous disclosure documents filed with
Canadian securities regulators at www.sedar.com.
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 closing of the private
placement financing and the use of proceeds from the equity financings.
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 Cequence believes that the
expectations reflected in its forward-looking information is
reasonable, undue reliance should not be placed on forward-looking
information because Cequence 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: the
anticipated timing for completion of the private placement and the
fulfillment of contractual obligations by other parties involved in the
private placement. 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 Cequence and described in the forward-looking information. The
material risk factors affecting Cequence and its business are contained
in Cequence's Annual Information Form which is available under
Cequence's issuer profile on SEDAR at www.sedar.com. The
forward-looking information contained in this press release is made as
of the date hereof and Cequence undertakes no 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 cautionary
The Toronto Stock Exchange has neither approved nor disapproved the
contents of this press release.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor
shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful. The common shares
to be 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 or to a U.S. person absent registration or an
applicable exemption from the registration requirements.
SOURCE Cequence Energy Ltd.
For further information:
Paul Wanklyn, President & CEO, (403) 218-8850, firstname.lastname@example.org
David Gillis, VP Finance & CFO, (403) 806-4041, email@example.com