DualEx Files Preliminary Prospectus


CALGARY, Feb. 25, 2013 /CNW/ - DualEx Energy International Inc. ("DualEx" or the "Corporation") (TSX-V : DXE), is pleased to announce that it has filed a preliminary short form prospectus in connection with a marketed public offering of units of the Corporation ("Units") for minimum gross proceeds of $3,000,000 and maximum gross proceeds of $8,000,000 (the "Offering").  The Offering is being led on a commercially reasonable efforts basis by Beacon Securities Limited (together with PI Financial Corp. and Maison Placements Canada, the "Agents"). The Offering is being made in Alberta, British Columbia, Manitoba and Ontario, and may also be offered for sale in other jurisdictions pursuant to applicable exemptions from registration requirements in those jurisdictions.

Each Unit will be comprised of one common share of the Corporation ("Common Share") and one-half of one Common Share purchase warrant (a whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof, subject to an acceleration clause, to purchase one Common Share at any time on or before the date that is two years from the closing of the Offering.

The Units, including the issue price of the Units and the exercise price of the Warrants during their term, will be priced in the context of the market.  The Offering is subject to certain conditions, including the Corporation and the Agents signing a definite agency agreement prior to the filing of a final prospectus.

In addition, the Corporation has granted the Agents an over-allotment option to place additional Units on the same terms, equal to up to 15% of the number of Units sold by the Corporation to cover over-allotments and for market stabilization purposes, exercisable at any time up to 15 days after the closing of the Offering.

The Corporation intends to use the net proceeds of the Offering for the acquisition and processing of 3D seismic on the Bouhajla Permit in Tunisia, the testing of the BHN-1 well in Tunisia and general working capital purposes.  If the maximum gross proceeds are raised under the Offering, the net proceeds will also be used to drill second well on the Bouhajla Permit.

Closing of the Offering is subject to certain conditions, including final due diligence and regulatory approval, including approval of the TSX Venture Exchange.

A preliminary prospectus containing important information relating to the Offering has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada.  The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from:

Beacon Securities Limited
Kirk Wilson, MD Investment Banking
2030, 355 - 4th Avenue SW
Calgary, Alberta, Canada T2P 0J1
Tel : (587) 350-6576
Email: kwilson@beaconsecurities.ca
      DualEx Energy International Inc.
Lorne Morozoff, VP, Finance and CFO
200, 521 - 3rd Avenue SW
Calgary, Alberta, Canada T2P 3T3
Tel : (403) 265-8011 ext. 222
Email: lmorozoff@dualexen.com

or either of the other Agents identified above.  Additionally, it is anticipated that the preliminary prospectus will be available electronically at www.sedar.com shortly. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the (final) prospectus has been issued.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.

DualEx Energy International Inc. is an oil and gas exploration and production company with operations in Tunisia and Hungary. DualEx's common shares trade on the TSX Venture Exchange under the symbol "DXE".

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "schedule", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning DualEx's future operations.  The forward-looking statements and information are based on certain key expectations and assumptions made by DualEx, including expectations and assumptions concerning equipment and crew availability and joint venture partner financial capability. Although DualEx believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because DualEx can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause DualEx's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions.  Additional information on these and other factors is available in continuous disclosure materials filed by DualEx with Canadian securities regulators.  Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. DualEx undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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.

SOURCE: DualEx Energy International Inc.

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DualEx Energy International Inc.

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