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Press release from Marketwire

Valeura Announces $15 Million Bought Deal Financing

Monday, September 17, 2012

Valeura Announces $15 Million Bought Deal Financing08:07 EDT Monday, September 17, 2012CALGARY, ALBERTA--(Marketwire - Sept. 17, 2012) -NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESValeura Energy Inc. ("Valeura" or the "Corporation") (TSX:VLE) is pleased to announce that it has entered into an agreement with a syndicate of underwriters to purchase, on a "bought deal" basis, 11,500,000 common shares ("Common Shares") of Valeura at a price of $1.30 per Common Share for gross proceeds of approximately $15.0 million (the "Offering"). The syndicate will be led by Cormark Securities Inc. and includes National Bank Financial Inc., Canaccord Genuity Corp., FirstEnergy Capital Corp., and Jennings Capital Inc. collectively (the "Underwriters").In addition, the Corporation has granted the Underwriters an over-allotment option to acquire up to an additional 1,725,000 Common Shares at a price of $1.30 per Common Share. This option is exercisable, in whole or in part, by the Underwriters, in their sole discretion, at any time up to 30 days after the closing date. If the over-allotment option is exercised in full, additional gross proceeds will be approximately $2.2 million for total gross proceeds of $17.2 million.The Corporation expects to use the net proceeds of the Offering to fund the Corporation's capital program, including continued field development and exploration operations in Turkey and for general corporate purposes.The Offering will be made in British Columbia, Alberta, Saskatchewan and Ontario by way of short form prospectus. The Offering is scheduled to close on or about October 10, 2012.ABOUT THE CORPORATIONValeura Energy Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey and Western Canada.Forward Looking Statements and Cautionary StatementsThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information in this press release may include, but is not limited to, information with respect to: the timing and completion of the Offering; the use of proceeds of the Offering; and continued field development and operations in Turkey. Forward-looking statements are based on the current expectations and opinions of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. The statements herein are made on the basis of certain assumptions, including the performance of the Underwriters' obligations in relation to the Offering and the timely receipt of any required approvals. There is no certainty regarding whether the over-allotment option will be exercised or additional funds will be raised thereby, which is at the discretion of the Underwriters. A number of risk factors could cause actual results to differ materially from those anticipated by the Corporation, including but not limited to the Underwriters' failure to perform their obligations, delays in closing the Offering, risks associated with the oil and natural gas industry, risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation. The material risk factors affecting the Corporation and its business are contained in the Corporation's Annual Information Form which is available under Valeura's issuer profile on SEDAR at FURTHER INFORMATION PLEASE CONTACT: Jim McFarlandValeura Energy Inc.President and CEO(403) 930-1150jmcfarland@valeuraenergy.comORSteve BjornsonValeura Energy Inc.CFO(403) 930-1151sbjornson@valeuraenergy.comwww.valeuraenergy.comNeither the Toronto Stock Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.