DALMAC ENERGY INC. TSX Venture: "DAL"
EDMONTON, March 31, 2016 /CNW/ - Dalmac Energy Inc.
("Dalmac") (TSX Venture "DAL") is pleased to announce
that it intends to complete a private placement of up to 5,000,000
units of Dalmac (the "Units") at a price of $0.10 per Unit for gross proceeds of up to
$500,000 (the "Private
Placement").
Pursuant to the Private Placement, each Unit shall entitled the
holder thereof to acquire, at no additional cost, one common share
of Dalmac (a "Common Share") and one share purchase warrant
of Dalmac (the "Warrants"). Each Warrant shall entitle the
holder thereof to acquire one Common Share at a price of
$0.15 per share for a period of
eighteen months from the closing date of the Private Placement.
Directors and officers of Dalmac may acquire some or all of the
Units.
The funds advanced to Dalmac will be used for working capital,
general corporate purposes and transaction expenses. In connection
with the Private Placement, no finders, brokers or other agents are
entitled to receive either Units or cash consideration.
The completion of the Private Placement is subject to the
approval of the TSX Venture Exchange. There is no assurance
that this proposed placement will be completed in full or in
part.
On March 31, 2016, the closing
price for Dalmac's Common Shares on the TSX Venture Exchange was
$0.105.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Information and Statements
This document contains certain forward-looking information
and statements within the meaning of applicable securities laws.
The use of any of the words "expect", "anticipate", "continue",
"estimate", "feels", "may", "will", "would", "believe", "plans",
"intends", "possible", "future" and similar expressions are
intended to identify forward-looking information or statements. In
particular, but without limiting the foregoing, this document
contains forward-looking information and statements pertaining to,
among other things, the following: Dalmac's intent to conduct a
private placement of Units; certain directors and officers of
Dalmac purchasing such Units; and the use of the proceeds from the
private placement of Units. This forward-looking information
and the related statements are based upon factors, expectations and
assumptions reflected in the forward-looking statements that are
reasonable at this time but no assurance can be given that these
factors, expectations and assumptions will prove to be
correct.
The forward-looking information and statements contained in
this news release are based upon several material factors,
expectations and assumptions of Dalmac including, without
limitation: the availability of subscribers to purchase the Units;
that Dalmac will continue to conduct its operations in a manner
consistent with past operations; the general continuance of current
or, where applicable, assumed industry conditions; availability of
sources to fund Dalmac's capital and operating requirements as
needed; and certain commodity price and other cost
assumptions.
The forward-looking information and statements included in
this news release are not guarantees of future performance and
should not be unduly relied upon. Such information and statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking information and
statements including, without limitation: general economic, market
and business conditions; volatility in market prices for crude oil
and natural gas; the ability of Dalmac's clients to explore for,
develop and produce oil and gas; availability of financing and
capital; the ability of Dalmac's customers to pay in a timely
manner; changes in commodity prices; unanticipated operating
results; changes in tax or environmental laws or royalty rates;
limited, unfavourable or no access to debt or equity capital
markets; increased costs and expenses; the impact of competitors;
reliance on industry partners; circumstances may arise, including
changes in accounting policies, regulations or economic conditions,
which could change the assumptions, estimates or expectations or
the information provided; shareholder value may not be maximized by
Dalmac or at all; there may be circumstances where, for unforeseen
reasons, a reallocation of funds may be necessary as may be
determined at the discretion of Dalmac and there can be no
assurance as at the date of this disclosure as to how those funds
may be reallocated; should any one of a number of issues arise,
Dalmac may find it necessary to alter its current business strategy
and/or capital expenditure program; fluctuations in interest rates;
demand for Dalmac's product and services; adverse conditions in the
debt and equity markets; and government actions including changes
in environment and other regulation; and certain other risks
detailed from time to time in Dalmac's public disclosure documents
including, without limitation, those risks identified in this
document.
The forward-looking information and statements contained in
this document speak only as of the date of this document, and
Dalmac does not assume any obligation to publicly update or revise
them to reflect new events or circumstances, except as may be
required pursuant to applicable laws.
SOURCE Dalmac Energy Inc.