Canacol Energy Ltd. Announces Private Offering of Senior Notes
19 April 2018 - 11:43PM
Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE)
(OTCQX:CNNEF) (BVC:CNEC) is pleased to announce that it intends,
subject to market and other conditions, to offer senior unsecured
notes (the "Notes") in a private placement to qualified
institutional buyers in the United States pursuant to Rule 144A
under the Securities Act of 1933, as amended (the "Securities
Act"), to non-U.S. persons in transactions outside the United
States pursuant to Regulation S under the Securities Act and
pursuant to certain prospectus exemptions in Canada (the
"Offering").
The Notes will be fully and unconditionally
guaranteed by certain subsidiaries of Canacol. The interest rate,
redemption prices and other terms of the Notes are to be determined
upon pricing of the Offering. Canacol intends to use the net
proceeds from the Offering: (i) to repay the outstanding amounts
borrowed under its credit facility; (ii) to pay fees and expenses
of the Offering; and (ii) for general corporate purposes.
This press release is neither an offer to sell
nor a solicitation of an offer to buy the Notes, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
The Notes have not been registered under the
Securities Act, or the securities laws of any other jurisdiction,
and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. The Offering is being made exclusively to qualified
institutional buyers in the United States pursuant to Rule 144A
under the Securities Act, to non-U.S. persons in transactions
outside the United States pursuant to Regulation S under the
Securities Act and pursuant to certain prospectus exemptions in
Canada.
About Canacol
Canacol is an exploration and production company
with operations focused in Colombia. The Corporation's common stock
trades on the Toronto Stock Exchange, the OTCQX in the United
States of America, and the Colombia Stock Exchange under ticker
symbol CNE, CNNEF, and CNE.C, respectively.
Certain statements in this news release are
"forward-looking statements", which reflect current expectations of
the management of Canacol regarding future events or Canacol's
future performance. All statements other than statements of
historical fact contained in this news release may be
forward-looking statements. In particular, forward-looking
information and statements herein include, but are not limited to,
the proposed Offering and the use of the net proceeds from the
proposed Offering. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in the forward-looking statements. Canacol
believes that the expectations reflected in such forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. The forward-looking
statements are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements are made as of
the date of this news release and Canacol assumes no obligation to
update or revise them to reflect new events or circumstances,
except as expressly required by applicable securities law.
Further information regarding risks and uncertainties relating to
Canacol and its securities can be found in the disclosure documents
filed by Canacol with the securities regulatory authorities,
available at www.sedar.com.
For further information please
contact:Investor
Relations214-235-4798Email:
IR@canacolenergy.comWebsite: canacolenergy.com
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