/NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRES SERVICES OR DISSEMINATION IN THE UNITED STATES/
CALGARY, April 12 /CNW/ - Longview Oil Corp. ("Longview") is pleased to announce that it will be closing its $150 million
initial public offering on Thursday, April 14, 2011 and the Longview
common shares will commence trading on the Toronto Stock Exchange on
The underwriting syndicate for the offering is co-led by RBC Capital
Markets and FirstEnergy Capital Corp., and includes Scotia Capital
Inc., BMO Capital Markets, National Bank Financial Inc., CIBC World
Markets Inc. and Macquarie Capital Markets Canada Ltd.
In addition to the 15,000,000 common shares being issued on the initial
public offering, Longview has granted to the underwriters an
over-allotment option, exercisable for a period of 30 days from the
date of closing of the offering, to purchase up to an additional
2,250,000 common shares at the offering price of $10.00 per common
share to cover over-allotments, if any, and for market stabilization
purposes. If the over-allotment option is exercised in full, gross
proceeds of the offering will be $172.5 million.
Longview's common shares will be listed on the Toronto Stock Exchange
under the symbol "LNV".
About Longview Oil Corp.
Longview was created to acquire certain oil-weighted assets of Advantage
Oil & Gas Ltd. which are located in West Central Alberta, Southeast
Saskatchewan and the Lloydminster area of Saskatchewan. Longview's
business strategy is to provide shareholders with attractive long term
returns that combine both growth and yield by exploiting its assets in
a financially disciplined manner, acquiring additional long-life oil
and gas assets of a similar nature and through the payment of a monthly
This press release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which
are beyond the control of Longview, including, without limitation,
those listed under the headings "Forward-Looking Statements" and "Risk
Factors" in Longview's final prospectus. Forward-looking information in
this press release includes, but is not limited to, information
concerning the proposed public offering, the anticipated dividends and
dates for payment of such dividends, and timing for the commencement of
trading of the common shares on the Toronto Stock Exchange. Should one
or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove incorrect,
actual results could differ materially from those expressed in, or
implied by, such forward-looking information. Accordingly, prospective
investors should not place undue reliance on the forward-looking
information. The forward-looking information is made as of the date of
this release and, other than as required by applicable securities laws,
Longview does not assume any obligation to update or revise the
forward-looking information to reflect new events or circumstances.
Residents of the United States
The securities offered have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any U.S. state securities laws and may not be
offered or sold in the United States or to United States persons absent
registration or any applicable exemption from the registration
requirement of the U.S. Securities Act and applicable U.S. state
securities laws. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
SOURCE Longview Oil Corp.
For further information:
Kelly Drader, President & Chief Executive Officer
Craig Blackwood, Chief Financial Officer
LONGVIEW OIL CORP.
700, 400 -3rd Avenue SW
Phone: (403) 718-8000
Fax: (403) 718-8300
Toll free: 1-855-813-0313
Web Site: www.longviewoil.com