/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
CALGARY, Nov. 26, 2013 /CNW/ - Marquee Energy Ltd. ("Marquee") (TSX-V: MQL) is pleased to announce that it has closed its previously
announced private placement of 8,000,500 common shares in the capital
of Marquee ("Common Shares") issued on a Canadian exploration expense flow-through basis under the Income Tax Act (Canada) (the "CEE Flow-Through Shares") at a price of $0.95 per CEE Flow-Through Share and 660,000 Common
Shares to be issued on a Canadian development expense flow-through
basis under the Income Tax Act (Canada) (the "CDE Flow-Through Shares" and together with CEE Flow-Through Shares, the "Offered Shares") at a price of $0.90 per CDE Flow-Through Share for aggregate gross
proceeds of approximately $8.2 million (the "Offering"). The Offered Shares are subject to a four month hold period that
expires on March 27, 2014.
The Offering was conducted through a syndicate of underwriters led by
National Bank Financial Inc. and including Peters & Co. Limited, Acumen
Finance Partners Limited and Desjardins Securities Inc. (collectively,
the "Underwriters"). In connection with the Offering, the Underwriters received a fee
equal to 6% of the gross proceeds of the Offering.
The proceeds from the Offering will be used by Marquee to incur Canadian
exploration expenses (the "Qualifying CEE Expenditures") on Marquee's Canadian properties prior to December 31, 2014 and
Canadian development expenses (the "Qualifying CDE Expenditures") on Marquee's Canadian properties prior to December 31, 2013, and
Marquee will renounce the Qualifying CEE Expenditures and Qualifying
CDE Expenditures to purchasers of the Offered Shares for the fiscal
year ended December 31, 2013.
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
development and production. Marquee is committed to growing the company
through exploitation of existing opportunities and continued
consolidation within its core area at Michichi. Additional information
about Marquee may be found on its website www.marquee-energy.com and 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 and
exploration and development 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 are
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 incur and renounce Canadian exploration expense
and Canadian development expense. 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. These
include, but are not limited to, the failure to obtain necessary
regulatory approvals and risks associated with the oil and gas industry
in general (e.g.: operational risks in development, exploration and
production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of
reserves estimates; the uncertainty of estimates and projections
relating to production, costs and expenses; and health, safety and
environmental risks). The material risk factors affecting Marquee and
its business are set out in further detail in Marquee'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.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities 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 state securities laws and may not be offered or sold within
the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE: Marquee Energy Ltd.
For further information:
Marquee Energy Ltd.
Richard Thompson, President and Chief Executive Officer
Roy Evans, Vice President, Finance and Chief Financial officer
Or view our website at www.marquee-energy.com