/NOT FOR DISTRIBUTION IN THE UNITED STATES./
CALGARY, May 16, 2013 /CNW/ - - Whitecap Resources Inc. ("Whitecap") is pleased to announce that it has closed its previously announced
public offering of 10,393,000 common shares, including 1,114,000 common
shares issued pursuant to the full exercise of the over-allotment
option, with a syndicate of underwriters led by GMP Securities L.P. and
National Bank Financial Inc. and including Dundee Securities Ltd.,
FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., TD
Securities Inc., Raymond James Ltd., Scotia Capital Inc., BMO Capital
Markets, CIBC World Markets Inc. and Peters & Co. Limited for gross
proceeds of approximately $100 million. The proceeds of the offering
will be used to partially fund the acquisition previously announced on
April 29, 2013, of assets in the Dodsland area of West Central
Whitecap has also closed its previously announced private placement
offering of "flow-through" shares at a price of $10.67 per share for
gross proceeds of approximately $20 million.
Note Regarding Forward-Looking Statements and Other Advisories
This press release contains forward-looking statements and
forward-looking information (collectively "forward-looking
information") within the meaning of applicable securities laws relating
to the use of proceeds of the offerings and the completion of the
acquisition This forward-looking information is based on certain key
expectations and assumptions made by Whitecap's management, including
expectations and assumptions concerning the satisfaction of certain
conditions to closing the acquisition.
Although the Company believes that the expectations and assumptions on
which such forward-looking information is based are reasonable, undue
reliance should not be placed on the forward-looking information
because Whitecap can give no assurance that they will prove to be
correct. Since forward-looking information addresses future events and
conditions, by its very nature they involve inherent risks and
uncertainties. The acquisition may not be completed on the anticipated
time frame or at all and, accordingly, no assurance can be given that
any of the events anticipated by the forward-looking information will
transpire or occur, or if any of them do so, what benefits that the
Company will derive there from. Management has included the above
summary of assumptions and risks related to forward-looking information
provided in this press release in order to provide securityholders with
a more complete perspective on Whitecap's future operations and such
information may not be appropriate for other purposes.
Readers are cautioned that the foregoing lists of factors are not
exhaustive. Additional information on these and other factors that
could affect our operations or financial results are included in
reports on file with applicable securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com).
These forward-looking statements are made as of the date of this press
release and Whitecap disclaims any intent or obligation to update
publicly any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
This press release is not an offer of the securities for sale in the
United States. The securities have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an exemption from
registration. 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
the securities in any state in which such offer, solicitation or sale
would be unlawful.
SOURCE: Whitecap Resources Inc.
For further information:
Grant Fagerheim, President and CEO
Thanh Kang, VP Finance and CFO
Whitecap Resources Inc.
500, 222 - 3 Avenue SW
Calgary, AB T2P 0B4
Main Phone (403) 266-0767
Fax (403) 266-6975