Tuscany Energy Ltd. Announces Proposed 2 for 1 Stock Split
21 Fevereiro 2014 - 11:00AM
Marketwired
Tuscany Energy Ltd. Announces Proposed 2 for 1 Stock Split
CALGARY, ALBERTA--(Marketwired - Feb 21, 2014) - Tuscany Energy
Ltd. ("Tuscany" or the "Corporation") (TSX-VENTURE:TUS) announces
that its Board of Directors has approved a proposed two (2) for one
(1) stock split of its outstanding common shares. Tuscany believes
the stock split will enhance the liquidity of the common shares and
more closely align its capital structure with that of its peers.
The stock split is subject to the approval of the TSX Venture
Exchange and the approval of not less than 66 2/3% of the votes
cast by shareholders at Tuscany's next Annual and Special Meeting
of Shareholders. Tuscany currently has approximately 19.4 million
common shares outstanding, and assuming the split is approved this
will increase to 38.8 million common shares. A further news release
will be issued when the date of the shareholders' meeting has been
established.
Tuscany is a heavy oil development and production company with
reserves, land holdings and production in Canada. The Company's
principal focus is the exploitation of oil resources in Alberta and
Saskatchewan through horizontal drilling. The majority of the
Company's revenue is generated from oil sales in Saskatchewan.
ADVISORY: Certain information provided in this press release
constitutes forward-looking statements. The words "propose",
"anticipate", "expect", "project", "estimate", "forecast", "plan",
"believe" and similar expressions are intended to identify such
forward-looking statements. This press release contains
forward-looking statements pertaining to, without limitation: the
proposed stock split and the anticipated benefits thereof. We have
made various assumptions relating to the forward-looking statements
contained herein, including in respect of our ability to obtain all
requisite approvals for the stock split. Although we believe that
the expectations reflected in these forward-looking statements, and
the assumptions on which they are made, are reasonable, undue
reliance should not be placed on them as we can give no assurance
that they will prove to be correct. Since forward-looking
statements address future events and conditions and are based on
various assumptions, by their very nature they involve inherent
risks and uncertainties that contribute to the possibility that the
forward-looking statements may not be accurate, which may cause our
actual performance and financial results in future periods to
differ materially from any estimates or projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other
things: failure to obtain requisite consents and approvals required
to complete the stock split; failure to realize the anticipated
benefits of the stock split; and the other factors described in our
public filings available at www.sedar.com. Readers are cautioned
that this list of risk factors should not be construed as
exhaustive. The forward-looking statements contained in this press
release are made as of the date hereof and we undertake no
obligation to publicly update 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. The forward-looking statements contained in this
document are expressly qualified by this cautionary
statement.
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 RELEASE.
Tuscany Energy Ltd.Robert W. LamondChairman & CEO(403)
269-9889Tuscany Energy Ltd.Charles A TeareExecutive Vice President
& CFO(403) 269-9889(403) 269-9890www.tuscanyenergy.com
Tuscany Energy Ltd. (TSXV:TUS)
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