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CALGARY, March 1, 2018 /CNW/ - Valeura Energy Inc.
("Valeura" or the "Corporation") (TSX: VLE) has
completed its previously announced public offering of common shares
(the "Shares") for gross proceeds of $60,003,900 (the "Offering"). The Shares
were sold through a syndicate of underwriters led by GMP
FirstEnergy and including Cormark Securities Inc.
The Corporation intends to use the net proceeds from the
Offering to fund its 2018 and 2019 capital program which is focused
on the continued appraisal of its unconventional, basin-centered
gas play in Turkey and for general
corporate purposes.
ABOUT THE CORPORATION
Valeura Energy Inc. is a Canada-based public company currently engaged
in the exploration, development and production of petroleum and
natural gas in Turkey.
Forward-Looking Statements and Cautionary Statements
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 "intend"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements in
this press release includes information with respect to the use of
proceeds of the Offering. 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 the actual use of
proceeds of the Offering to differ materially from that projected
in the forward-looking statements. The Corporation cannot assure
that actual use of proceeds of the Offering 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. Investors should not place undue
reliance on forward-looking statements. A number of risk factors
could cause actual results to differ materially from those
anticipated by the Corporation, including but not limited to 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
www.sedar.com.
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 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.
Additional information relating to Valeura is also available on
SEDAR at www.sedar.com.
Neither the Toronto Stock Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Toronto Stock Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Valeura Energy Inc.