Paris Energy Inc. and Mapan Energy Ltd. Announce Increase to Bought Deal Financing from $115.0 Million to $126.6 Million
02 Julho 2014 - 2:06PM
Marketwired
Paris Energy Inc. and Mapan Energy Ltd. Announce Increase to Bought
Deal Financing from $115.0 Million to $126.6 Million
CALGARY, ALBERTA--(Marketwired - Jul 2, 2014) -
NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S.
Paris Energy Inc. (TSX-VENTURE:PI) ("Paris") and Mapan Energy
Ltd. ("Mapan"), are pleased to announce that Mapan has increased
its previously announced bought deal private placement with a
syndicate of underwriters co-led by FirstEnergy Capital Corp. and
GMP Securities L.P. and including Canaccord Genuity Corp. and
Raymond James Ltd. (together, the "Underwriters"), whereby Mapan
will now issue 63,300,000 subscription receipts at a price of $2.00
per subscription receipt for aggregate gross proceeds of
$126,600,000.
As previously disclosed, the proceeds of the private placement
will used to fund the acquisition by Mapan of certain oil and gas
properties and infrastructure located in the Deep Basin of West
Central Alberta and Northeastern British Columbia.
This 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 jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities issued
pursuant to the private placement described herein may not be
offered or sold in the United States absent registration or
applicable exemptions from the registration requirements.
ADVISORY: This press release contains forward looking
statements. More particularly, this press release contains forward
looking statements concerning the private placement. Although Paris
and MAPAN believe that the expectations reflected in these forward
looking statements are reasonable, undue reliance should not be
placed on them because neither Paris nor MAPAN can give assurances
that they will prove to be correct. Since forward looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. The closing
of the private placement could be delayed if Paris and Mapan are
not able to obtain the necessary stock exchange approvals on the
planned timelines, and the private placement may not be completed
at all if these approvals are not obtained or some other condition
to closing is not satisfied or the underwriters exercise one or
more of their termination rights in respect of the private
placement. Actual results, performance or achievements could differ
materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any events anticipated by the forward-looking statements
will transpire or occur. Additional information on these and other
factors that could affect Paris and MAPAN are included in reports
on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com). The forward
looking statements contained in this press release are made as of
the date hereof and neither Paris nor MAPAN undertakes any
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.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Richard A. WallsPresident &
CEO403-536-5771rwalls@mapanenergy.comJennifer DugdaleChief
Financial Officer403-536-5773jdugdale@mapanenergy.comRon KisicVP
& General Counsel403-536-5777rkisic@mapanenergy.com
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