/NOT FOR DISTRIBUTION TO NEWS WIRE SERVICES OR FOR DISSEMINATION OUTSIDE
CALGARY, May 7, 2013 /CNW/ - Griffiths Energy International Inc., which
is anticipated to be renamed "Caracal Energy Inc." upon ratification
of such name by shareholders at its Annual and Special Meeting on May
22, 2013, ("Caracal Energy" or the "Company") is pleased to announce
that it has filed a preliminary long form prospectus (the "Prospectus")
dated May 7, 2013, with the securities commissions of each of the
provinces of Canada, except Québec, in connection with an initial
public offering of its common shares (the "Canadian IPO").
The Canadian IPO is being made through a syndicate of underwriters
co-led by RBC Dominion Securities Inc. and Barclays Capital Canada Inc.
and including Canaccord Genuity Corp. and FirstEnergy Capital Corp.
The Canadian IPO will be priced in the context of the market and will
be offered in all provinces of Canada, except Québec.
Concurrently with the closing of the Canadian IPO, the Company will
complete an initial public offering of certain of its common shares to
certain institutional and professional investors in the United Kingdom,
in the member states of the European Economic Area, in the United
States and other jurisdictions outside of Canada (the "Global Offer").
The Global Offer will be made through a syndicate of underwriters
co-led by RBC Europe Limited and Barclays Bank PLC and including
Canaccord Genuity Limited and FirstEnergy Capital LLP. The Global Offer
will be priced concurrently with the Canadian IPO at the same offer
The Company intends to apply to the United Kingdom's Financial Conduct
Authority (the "FCA") for its common shares to be admitted to the
premium listing segment of the Official List of the FCA and to the
London Stock Exchange plc (the "LSE") for its common shares to be
admitted to trading on the LSE's main market for listed securities
The Prospectus notes that an investment in the common shares of the
Company is speculative and involves a high degree of risk. The
Company's business is subject to the risks normally encountered in the
oil and natural gas industry as well as many additional risks
associated with conducting oil and gas operations in the Republic of
Chad, a developing country in Africa. An investment in the common
shares of the Company is suitable only for those investors who are
willing to risk a loss of some or all of their investment. For more
information, potential investors should read the Prospectus, including
the "Risk Factors." A copy of the Prospectus is available on the SEDAR
website at www.sedar.com.
About the Company
Based in Canada, the Company is an independent oil and gas exploration,
appraisal and development company with exclusive rights to explore and
develop oil and gas reserves and resources over an area of
approximately 26,103 square kilometres (6.4 million acres) in southern
Chad. This area is comprised of three Contractual Zones, the rights to
which were granted to the Company in 2011 pursuant to production
sharing contracts that it entered into with the Government of Chad.
Information in this press release that is not current or historical
factual information may constitute forward-looking information within
the meaning of securities laws. Forward-looking information may relate to our future outlook and
anticipated events or results and may include statements regarding the
business strategy and plans and objectives. Particularly, statements
regarding the approval of the name change of the Company by
shareholders, the Admission, as well as those relating to the
completion of the Canadian IPO and Global Offer are forward-looking
statements. Forward-looking information contained in this press release is based on
our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under
no obligation and do not undertake to update this information at any
particular time except as required by applicable securities law.
The Prospectus is still subject to completion or amendment. There will
not be any sale or acceptance of an offer to buy the common shares of
the Company under the Prospectus until a receipt for the final
prospectus has been issued. This press release is not for distribution,
directly or indirectly, in or into the United Kingdom, the United
States (including its territories and possessions, any State of the
United States and the District of Columbia) or any other jurisdiction
outside Canada. This press release does not constitute or form a part
of any offer or solicitation to buy or sell any securities in the
United Kingdom, the United States or any other jurisdiction outside of
Canada. The securities offered pursuant to the Prospectus have not been
and will not be registered under the United States Securities Act of
1933, as amended, or the securities laws of any state of the United
States and may not be offered or sold within the United States. There will be no public offer of securities in the United States.
No securities regulatory authority has either approved or disapproved of
the contexts of this press release.
SOURCE: Griffiths Energy International Inc.
For further information:
President and Chief Executive Officer
Chief Financial Officer
Alan Bayless, 604-694-6035
Joel Shaffer, 416-649-8006