CALGARY, Dec. 19, 2012 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: MQL) announced today that the Company has closed a non-brokered private
placement of 1,963,238 common shares of the Company at a price of $1.05
per common share, issued on a flow-through basis pursuant to the Income Tax Act (Canada) (the Flow-Through Shares") for proceeds of $2,061,400. The
Flow-Through shares are subject to a restricted period of four months
and a day, expiring on April 20th, 2013. Certain registered dealers received a finder's fee equal to 6%
of the gross proceeds from the placement of the Flow-Through Shares.
The purchasers of the Flow-Through Shares will be entitled to
renunciations from Marquee Energy Ltd. in an amount equal to the
subscription amount effective December 31, 2012. The gross proceeds
from the offering will be used by Marquee to incur eligible Canadian
Exploration Expenses on or before December 31, 2013.
Additional Information about Marquee Energy Ltd.
Marquee Energy Ltd. is a publicly traded Calgary-based growth oriented
junior oil and gas company currently focused on high rate of return,
oil and liquids rich gas production in Alberta. Additional information
about Marquee Energy Ltd. may be found in its continuous disclosure
documents filed with Canadian securities regulators at www.sedar.com.
Forward looking Statements or Information
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 use of proceeds;
exploration plans and the timing thereof. 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
Marquee believes that the expectations reflected in such
forward-looking information is reasonable, undue reliance should not be
placed on forward-looking information because Marquee 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 ability of Marquee to secure adequate product
transportation, and secure such transportation in a timely manner; the
ability to obtain qualified staff, equipment and services in a timely
and cost efficient manner to develop its business; the ability to
operate its properties in a safe, efficient and effective manner; the
ability to replace and expand oil and natural gas reserves through
acquisition, development of exploration; the timing and costs of
pipeline, storage and facility construction and expansion; future oil
and natural gas prices; currency, exchange and interest rates; the
regulatory framework regarding royalties, taxes and environmental
matters; and the ability to successfully market its oil and natural gas
products. 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 Marquee and described in the forward-looking information. The
material risk factors affecting the Company and its business are
contained in the Company's Annual Information Form which is available
at SEDAR at www.sedar.com.
The forward-looking information contained in this press release is made
as of the date hereof and Marquee does not undertake any 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
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: Marquee Energy Ltd.
For further information:
Marquee Energy Ltd.
President & Chief Executive Officer
Vice President, Finance and Chief Financial Officer
or visit the Company's website at www.marquee-energy.com