CALGARY,
June 11, 2013 /CNW/ - Toscana
Energy Income Corporation ("Toscana Energy" or the "Company") (TSX
Venture: TEI) is pleased to announce the successful closing of
the previously announced issue of $15 million aggregate principal amount of
6.75% convertible unsecured subordinated debentures (the
"Debentures") at a price of $1,000
per Debenture. The Debentures were offered to the public through a
syndicate of underwriters led by National Bank Financial Inc. and
including GMP Securities LP, Macquarie Capital Markets Canada Ltd.
and Sprott Private Wealth LP (collectively, the "Underwriters").
The Underwriters maintain an over-allotment option to purchase up
to an additional $2,250,000 aggregate
principal amount of Debentures at the same price, exercisable in
whole or in part at any time for a period of up to 30 days
following June 11, 2013. The
Debentures are listed on the TSX Venture Exchange under the symbol
"TEI.DB". The Company expects to close the previously
announced private placement of $5.0
million aggregate principal amount of Debentures on or about
June 18, 2013.
About Toscana Energy Income
Corporation
Toscana Energy Income Corporation is a
conventional oil and gas producer with the mandate to acquire high
quality, long life oil and gas assets including royalties,
non-operated working interests and unitized production for yield
and capital appreciation. Toscana Energy Income Corporation
is managed by Sprott Toscana through Toscana Energy Corporation.
Sprott Toscana is a member of the Sprott Group of Companies.
About Sprott Toscana
Sprott Toscana (formerly Toscana Merchant Group)
is a team of Calgary-based energy
specialists that manage three separate businesses: Toscana Energy
Income Corporation (through Toscana Energy Corporation), Toscana
Financial Income Trust and Maple Leaf Energy Income LPs. In
July 2012, Toscana Merchant Group
joined the Sprott Group of Companies when it was acquired by Sprott
Inc. (TSX: SII), Canada's leading
alternative asset manager and a global leader in resource
investing.
Forward-Looking Statements
This news release contains forward‐looking
statements and forward‐looking information within the meaning of
applicable securities laws. These statements relate to future
events or future performance. All statements other than
statements of historical fact may be forward‐looking statements or
information. Forward‐looking statements and information are
often, but not always, identified by the use of words such as
"appear", "seek", "anticipate", "plan", "continue", "estimate",
"approximate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe", "would" and similar expressions.
More particularly and without limitation,
this news release contains forward‐looking statements and
information concerning the closing of the private placement and the
anticipated timing thereof. The forward‐looking statements and
information are based on certain key expectations and assumptions
made by management of the Company. Although management of the
Company believes that the expectations and assumptions on which
such forward-looking statements and information are based are
reasonable, undue reliance should not be placed on the
forward‐looking statements and information since no assurance can
be given that they will prove to be correct.
Forward-looking statements and information
are provided for the purpose of providing information about the
current expectations and plans of management of the Company
relating to the future. Readers are cautioned that reliance on such
statements and information may not be appropriate for other
purposes, such as making investment decisions. Since
forward‐looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks.
These include, but are not limited to, failure to obtain required
approvals and changes in legislation. Accordingly, readers should
not place undue reliance on the forward‐looking statements,
timelines and information contained in this news release. Readers
are cautioned that the foregoing list of factors is not
exhaustive.
The forward‐looking statements and
information contained in this news release are made as of the date
hereof and no undertaking is given to update publicly 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 or the TSX Venture Exchange. The
forward-looking statements or information contained in this news
release 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.
SOURCE Toscana Energy Income Corporation