Donnybrook Provides Corporate Update
17 December 2013 - 1:01PM
Marketwired
Donnybrook Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Dec 16, 2013) - Donnybrook
Energy Inc. ("Donnybrook" or the "Company") (TSX-VENTURE:DEI)
reports that the board of directors of the Company has determined
that, at this time, the Company will not be proceeding with the
previously announced proposed consolidation of its common shares
("Common Shares") and name change.
At the meeting of
shareholders of the Company ("Shareholders") held on September 6,
2013, Shareholders approved, among other things, a special
resolution to consolidate the issued and outstanding Common Shares
on the basis of one (1) post-consolidation Common Share for up to
every forty-three (43) pre-consolidation Common Shares, or such
lesser ratio that the board of directors of the Company (the
"Board"), in its sole discretion, may determine to be appropriate
(the "Consolidation"). Shareholders also approved a special
resolution to change the name of the Company to "Deca Exploration
Inc." or such other name as the Board may determine to approve (the
"Name Change").
The Company is
currently in the process of defending the previously announced
proposed class action. The Company firmly believes that the
allegations in the proposed class action are without merit and the
Company will be vigorously defending the claims. Accordingly, the
Company has deferred its previously announced pursuit of strategic
alternatives to a future date as yet to be determined.
ON BEHALF OF THE
BOARD OF DONNYBROOK ENERGY INC.
Malcolm F. W. Todd,
Chief Executive Officer
ADVISORY ON
FORWARD-LOOKING STATEMENTS: This news release contains certain
forward-looking information and statements ("forward-looking
statements") within the meaning of applicable securities laws. The
use of any of the words "expect", "anticipate", "continue",
"estimate", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify
forward-looking statements. In particular and without limitation,
this news release contains forward-looking statements concerning
the Name Change, the Consolidation, the proposed class action and
the Company's strategic process.
Forward-looking
statements are based on a number of material factors, expectations
or assumptions of Donnybrook which have been used to develop such
statements and information but which may prove to be incorrect.
Although Donnybrook believes that the expectations reflected in
these forward-looking statements are reasonable, undue reliance
should not be placed on them because Donnybrook can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Additional
information regarding some of these risks, expectations,
assumptions and other factors may be found in the Company's Annual
Information Form and Management's Discussion and Analysis prepared
for the year ended December 31, 2012. The reader is cautioned not
to place undue reliance on these forward-looking statements. The
forward-looking statements contained in this news release are made
as of the date hereof and Donnybrook undertakes no obligations to
update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
so required by applicable securities laws.
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 NEWS
RELEASE.
Donnybrook Energy Inc.Malcolm ToddPresident and Chief Executive
Officer(604) 684-2356(604) 684-4265www.donnybrookenergy.ca
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