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Press release from CNW Group

Whitecap Announces Filing of Preliminary Prospectus and Disclosure of Selected Unaudited 2010 Results

Tuesday, March 15, 2011

Whitecap Announces Filing of Preliminary Prospectus and Disclosure of Selected Unaudited 2010 Results15:09 EDT Tuesday, March 15, 2011/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/CALGARY, March 15 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") is pleased to announce that it has filed and obtained a receipt for its preliminary prospectus with respect to its previously announced public offering of 20,000,000 subscription receipts ("Subscription Receipts") which includes selected unaudited year end and fourth quarter 2010 financial and operating information. The offering is scheduled to close on or about March 29, 2011 and is subject to customary regulatory approvals including the approval of the Toronto Stock Exchange.This press release is not an offer of the Subscription Receipts for sale in the United States. The Subscription Receipts have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such province or other jurisdiction.Whitecap's press release of its unaudited fourth quarter results is expected to be released on March 24, 2011 and its audited financial statements are expected to be filed on SEDAR (www.sedar.com) on March 24, 2011.Advisory Regarding Forward-Looking Information and StatementsThis press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward-looking statements and information concerning: the timing of the release and/or filing of Whitecap's fourth quarter and annual results; and the timing of the completion of the offering.The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Whitecap, including the satisfaction of the conditions of closing of the Offerings on the timing planned, and the receipt, in a timely manner, of regulatory and other required approvals. Although Whitecap 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 Whitecap can give no assurance that they will prove to be correct.Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with a failure to satisfy conditions to closing of the offering; failure to obtain the necessary regulatory and other approvals, including stock exchange approvals and on the timelines planned; and risks that conditions to closing of the offering are not satisfied.The forward-looking statements and information contained in this press release are made as of the date hereof and Whitecap 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.For further information: Grant Fagerheim, President & CEO or Thanh Kang, VP Finance and CFO, Whitecap Resources Inc., 500, 222 - 3 Avenue SW, Calgary, AB, T2P 0B4, Main Phone (403) 266-0767, Fax (403) 266-6975