Desmarais announces non-brokered private placement


    TSX Venture Exchange Symbol: DES

    CALGARY, Sept. 12 /CNW/ - Desmarais Energy Corporation (TSXV: DES)
("Desmarais" or the "Corporation") is pleased to announce that, subject to
regulatory approval, it intends to proceed with a non-brokered private
placement (the "Private Placement") financing of up to 1,000,000 units (the
"Units") of the Corporation at a price of $0.15 per Unit for aggregate gross
proceeds of up to $150,000. Each Unit will be comprised of one common share in
the capital of the Corporation and one half of one common share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable
into one common share in the capital of the Corporation at any time on or
before the date that is 9 months after the closing of the Private Placement at
a price of $0.25 per share.
    Proceeds of the private placement will be used for general corporate

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this press release.


    Certain statements regarding Desmarais include management's assessments
of future plans and operations, may constitute forward-looking statements
under applicable securities laws and necessarily involve known and unknown
risks and uncertainties, most of which are beyond Desmarais' control. These
risks may cause actual financial and operating results, performance, levels of
activity and achievements to differ materially from those expressed in, or
implied by, such forward-looking statements.
    Such factors include, but are not limited to: the impact of general
economic conditions in Canada and the United States; industry conditions
including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are interpreted
and enforced; competition; the lack of availability of qualified personnel;
fluctuations in commodity prices; the results of exploration and development
drilling and related activities; imprecision in reserve estimates; the
production and growth potential of Desmarais' various assets; fluctuations in
foreign exchange or interest rates; the ability to access sufficient capital
from internal and external sources; and obtaining required approvals of
regulatory authorities.
    Accordingly, Desmarais gives no assurance nor makes any representations
or warranty that the expectations conveyed by the forward-looking statements
will prove to be correct and actual results may differ materially from those
anticipated in the forward looking statements. Desmarais undertakes no
obligation to publicly update or revise any forward-looking statements.

For further information:

For further information: James G. Long, Desmarais Energy Corporation,
Tel: (403) 265-8007, Fax (403) 264-7076, E-mail:,

Organization Profile

Desmarais Energy Corporation

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890