DualEx Announces Proposed $988,000 Private Placement Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Oct. 25, 2013 /CNW/ - DualEx Energy International Inc. ("DualEx" or the "Corporation") (TSXV:DXE), announced today its intention to complete a non-brokered private placement offering of up to 5,200,000 units at a price of $0.19 per unit, for gross proceeds of up to $988,000.  Each unit will consist of one common share and one-half of one (1/2) common share purchase warrant.  Each whole warrant will entitle the holder thereof to acquire one common share at a price of $0.30 per share for a period of one year after the closing.  If, at any time, the volume-weighted average price of the common shares on the TSX Venture Exchange is at least $0.90 for a minimum of 10 consecutive trading days (whether or not trading occurs on all such days, provided that the common shares trade on at least five of such trading days), the Corporation may, in its sole discretion, provide written notice to the holder that the exercise period has been reduced to 30 days following the delivery of such notice.

A finder's fee of up to 6% of the gross proceeds of the offering may be paid, on all or any portion of the funds raised pursuant to this offering.  In addition, finders will receive finders warrants equal to up to 6% of the number of units issued in connection with the offering.  Each finder's warrant will entitle the holder to purchase one common share at a price of $0.19 per share for a period of one year after the closing.

The closing of the offering is expected to occur on or about October 31, 2013, and is subject to regulatory approval, including approval of the TSX Venture Exchange.  For further details on the offering, please contact the Corporation.  All securities issued in connection with the offering will be subject to a hold period of four months from the date of closing.  The net proceeds from the offering will be used to further the Corporation's oil and gas exploration and production activities within the Bouhajla Permit in Tunisia and for general working capital.

DualEx Energy International Inc. is an oil and gas exploration and production company with operations in Tunisia and Hungary. DualEx's common shares trade on the TSX Venture Exchange under the symbol "DXE".

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "schedule", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning DualEx's future operations.  The forward-looking statements and information are based on certain key expectations and assumptions made by DualEx, including expectations and assumptions concerning equipment and crew availability and joint venture partner financial capability. Although DualEx believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because DualEx can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause DualEx's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions.  Additional information on these and other factors is available in continuous disclosure materials filed by DualEx with Canadian securities regulators.  Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. DualEx undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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: DualEx Energy International Inc.

Garry Hides, President & CEO
DualEx Energy International Inc.
200, 521 - 3rd Avenue SW
Calgary, Alberta, Canada T2P 3T3
Tel: [phone] ext. 223
www.dualexen.com 

Jeremy Dietz
Investor Relations, The Equicom Group
300 - 5th Avenue SW, 10th Floor 
Calgary, Alberta, Canada T2P 3C4
Tel: [phone]
[email protected]