/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATE/
CALGARY,
April 29, 2013 /CNW/ - Palliser Oil
& Gas Corporation ("Palliser" or the "Company")
(TSXV:PXL) is pleased to announce that the TSXV Venture Exchange
("TSXV") has accepted Palliser's Notice of Intention to make
a Normal Course Issuer Bid (the "Bid") to purchase for
cancellation, from time to time, as Palliser considers advisable,
up to a maximum of 5,909,409 common shares (the "Common
Shares"). The maximum number of Common Shares to be purchased
pursuant to the Bid represents (10% of the Public Float) at the
date hereof. Purchases of Common Shares will be made on the open
market through the facilities of the TSXV. The price which Palliser
will pay for any Common Shares purchased by it will be the
prevailing market price of the Common Shares on the TSXV at the
time of such purchase. The actual number of Common Shares that may
be purchased for cancellation and the timing of any such purchases
will be determined by Palliser.
The Bid will commence on May 2, 2013 and will terminate on May 1, 2014 or such earlier time as the Bid is
completed or terminated at the option of Palliser. The Company has
retained Casimir Capital Ltd. of Calgary,
Alberta, as its broker to conduct the normal course issuer
bid on its behalf.
Management of Palliser believes that, from time
to time, the market price of the Common Shares may not fully
reflect the underlying value of the Common Shares and that at such
times the purchase of Common Shares would be in the best interests
of Palliser. Such purchases will increase the proportionate
interest of, and may be advantageous to, all remaining
shareholders.
About Palliser
Palliser is a Calgary-based junior oil and gas company
focused on high netback heavy oil production in the greater
Lloydminster area of Alberta and Saskatchewan.
Forward-Looking Statements
This press release contains forward-looking
statements regarding, among other things, the Company's beliefs,
plans, objectives, strategies, estimates, intentions and
expectations, including as they relate to its operating and
financial results, capital expenditures and the ability to execute
on its operating, investing and financing strategies. Consequently,
actual results and events may differ materially from those included
in, contemplated or implied by such forward looking statements for
a variety of reasons. Forward-looking statements are subject to
inherent risks and uncertainties including, but not limited to,
market and general economic conditions, certain property and
casualty risks, the ability to attract and retain pharmacists, the
availability and terms of financing, changes in the Company's
relationship with its key suppliers, competitive factors, changes
in regulatory environments affecting the Company's business, and
the accuracy in management's assumptions (see "Risks And Risk
Management" as noted in the Company's Management's Discussion &
Analysis posted on SEDAR at www.sedar.com). This list is not
exhaustive of the factors that may affect any of the Company's
forward-looking statements. Investors and others should carefully
consider these and other factors and not place undue reliance on
these forward-looking statements. In addition, these
forward-looking statements relate to the date on which they were
made and the Company disclaims and has no intention or obligation
to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
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 Press release.
SOURCE Palliser Oil & Gas Corporation