Realm Energy Reports Financial Results for the Third Quarter 2010
November 26 2010 - 5:29PM
Marketwired
Realm Energy International Corporation ("Realm Energy" or the
"Company") (TSX VENTURE: RLM) (www.realmenergy.ca), is pleased to
announce its financial and operations results for the three and
nine month periods ended September 30, 2010.
Third Quarter 2010 Highlights:
On September 13, 2010 the Company announced a non-brokered
private placement of up to 10,000,000 units at a price of $0.30 per
unit for cash proceeds of up to $3,000,000 (the "Private
Placement"). Each unit comprises one common share and one common
share purchase warrant. Each common share purchase warrant entitles
the holder to acquire one additional common share of the Company at
a price of $0.40 for a period of two years from the closing of the
Private Placement. An 8.0% finders' fee was paid in the form of
Private Placement units to arm's length finders on the Private
Placement. The Private Placement closed subsequent to the period
end. The net proceeds of the Private Placement will be used for
general working capital purposes.
Subsequent to the periods ended September 30, 2010, on October
28, 2010, the Company announced another non-brokered private
placement of up to 10,000,000 units at a price of $0.60 per unit
for cash proceeds of up to $6,000,000 to Quantum Partners LP
("Quantum"), a private investment fund managed by Soros Fund
Management LLC. Each unit comprised one common share and one half
of a common share purchase warrant. Each whole common share
purchase warrant entitles the holder to acquire one additional
common share of the Company at a price of $0.95 for a period of two
years. On November 15, 2010, the Company closed the private
placement with Quantum. The Company paid finders' fees of 9.0% in
the form of non-brokered private placement units to parties that
were arm's length to the Company.
FINANCIAL SUMMARY:
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Three months Three months Nine months Nine months
ended ended ended ended
September 30, September 30, September 30, September 30,
2010 2009 2010 2009
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Net loss $ (1,106,551) $ (1,068) $ (2,942,392) $ (41,333)
Basic and
diluted loss
per share (0.02) (0.01) (0.07) (0.01)
Total assets 1,459,804 404,350 1,459,804 404,350
Cash 1,128,381 9,804 1,128,381 9,804
Working capital 935,826 (126,866) 935,826 (126,866)
Shareholders'
equity 1,218,804 267,680 1,218,804 267,680
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A complete financial reporting package for the quarter ended
September 30, 2010 is available on Sedar http://www.sedar.com or by
contacting the Company.
About Realm Energy
Realm Energy International Corporation is a Canadian domiciled
global energy company focused on the exploration and development of
major shale plays throughout Europe and emerging countries. The
Company is in the process of acquiring petroleum and natural gas
rights and conducting exploration activities over large contiguous
tracts of land which it has identified as high potential, and is
committed to leveraging the most advanced shale technology to bring
these resources into production.
Visit Realm Energy's website at www.realmenergy.ca.
REALM ENERGY INTERNATIONAL CORPORATION
Craig A. Steinke, Chairman & Chief Executive Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
news release includes certain "forward-looking statements" within
the meaning of applicable Canadian provincial securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to the required Exchange
acceptance of the Transaction (as defined above). Forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered by the Company's management to be
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; or delay or failure to receive regulatory
approvals. There can be no assurance that the Company will secure
the final acceptance of the Transaction from the TSX Venture
Exchange, or that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law or the
policies of the TSX Venture Exchange.
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.
Contacts: Curve Communications - Media Contact Brian Paterson
604.684.3170 ext. 102 /C: 778.319.4165
brian@curvecommunications.com Contact Financial - Investor
Relations Keir Reynolds 604-689-7422 keir@contactfinancial.com
Realm Energy International Corporation - Corporate Enquiries Kevin
Rathbun Chief Financial Officer 604.637.4974 ext. 33
info@realmenergy.ca www.realmenergy.ca
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