DualEx announces closing of $5.77 million short form prospectus offering
/NOT FOR DISTRIBUTION TO
The Offering was co-led by Clarus Securities Inc. and Jennings Capital Inc. (together, the "Agents"). A total of 14,427,500 units ("Units") were issued by the Corporation at a price of
The Corporation will use the net proceeds of the Offering for the drilling, completion and tie-in of 2 - 4 wells in
The Agents were paid a cash commission of
The Corporation has granted to the Agents an option exercisable, in whole or in part, for a period of 30 days after the closing date of the Offering to require DualEx to issue up to an additional 15% of the Units actually sold at the closing of the Offering at the Offering Price to cover over-allotments and for market stabilization purposes.
This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the
DualEx Energy International Inc. is an oil and gas exploration and production company with operations primarily in the greater Mediterranean area. DualEx's common shares trade on the TSX Venture Exchange under the symbol "DXE".
Forward-Looking Statements
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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.
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For further information: For further information: This press release is reproduced on DualEx's website at www.dualexen.com. For this and other information about DualEx Energy International Inc., please visit the website or contact Garry Hides (President & CEO) at (403) 265-8011 ext. 223
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