/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
CALGARY, Dec. 4, 2012 /CNW/ - Novus Energy Inc. ("Novus" or the "Company") announces that it has
retained Cormark Securities Inc. ("Cormark"), as lead, and FirstEnergy
Capital Corp. ("FirstEnergy") as its financial advisors to assist the
Special Committee of the Board of Directors in exploring and evaluating
a broad range of options to optimize shareholder value.
On November 20, 2012, in conjunction with the release of the Company's
third quarter 2012 results, Novus announced that, due to the high
quality of Novus' asset base and the significant amount of industry
interest and recent activity in the Company's Viking oil core area of
Dodsland Saskatchewan, the Board of Directors of Novus had struck a
Special Committee of the Board to consider how to optimize shareholder
Such options may include, but are not limited to, a sale of all or a
portion of the assets of the Company, a merger or other business
combination of the Company with another entity, a sale of the Company
as a whole or any combination thereof.
A data room shall be available for interested and qualified parties
wishing to enter into a confidentiality agreement. The Company has not
established a definitive schedule to complete its review and
consideration of options to optimize shareholder value and does not
intend to disclose developments with respect to the process unless and
until the Board of Directors has approved a specific transaction or
otherwise determines that disclosure is appropriate.
Parties interested in obtaining further information regarding the
process can contact Cormark at firstname.lastname@example.org or FirstEnergy at email@example.com.
Novus Shares trade on the TSX Venture Exchange under the symbol NVS.
Novus currently has 189.4 million common shares outstanding.
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.
This news release will not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. Such securities have not been registered under the United
States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. person, absent
registration, or an applicable exemption therefrom.
ADVISORY REGARDING FORWARD LOOKING STATEMENTS
Certain disclosures set forth in this press release constitute
forward-looking statements. Any statements contained herein that are
not statements of historical facts may be deemed to be forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "anticipate", "believes",
"budget", "continue", "could", "estimate", "forecast", "intends",
"may", "plan", "predicts", "projects", "should", "will" and other
similar expressions. All estimates and statements that describe the
Company's future, goals, or objectives, including Management's
assessment of future plans and operations, may constitute
forward-looking information under securities laws. Forward looking
statements involve known and unknown risks and uncertainties which
include, but are not limited to: the failure of the Company to
undertake a sale of all or a portion of the assets of the Company, a
merger or other business combination of the Company with another
entity, a sale of the Company as a whole or any combination thereof;
exploration, development and production risks; assessments of
acquisitions; reserve measurements; availability of drilling equipment;
access restrictions; permits and licenses; aboriginal claims; title
defects; commodity prices; commodity markets, transportation and
marketing of crude oil, liquids and natural gas; reliance on operators
and key personnel; competition; corporate matters; funding
requirements; access to credit and capital markets; market volatility;
cost inflation; foreign exchange rates; general economic and industry
conditions; environmental risks; Kyoto protocol; and government
regulation and taxation.
Forward-looking statements relate to future events and/or performance
and although considered reasonable by Novus at the time of preparation,
may prove to be incorrect and actual results may differ materially from
those anticipated in the statements made. Novus does not undertake any
obligation to publicly update forward-looking information except as
required by applicable securities law.
Readers are cautioned that the foregoing list of factors is not
exhaustive. Additional information on these and other factors that
could affect Novus' 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), and at Novus' website (www.novusenergy.ca). The forward-looking statements and information contained in this
press release are made as of the date hereof and Novus undertakes no
obligation to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
SOURCE: Novus Energy Inc.
For further information:
NOVUS ENERGY INC.
Hugh G. Ross
President and CEO
Chief Financial Officer
VP Business Development