Dejour Secures C$2MM Bridge Loan
March 12 2015 - 4:05PM
Business Wire
James Dai Joins Board of Directors
Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour”
or the “Company”), an independent oil and gas exploration and
production company operating in North America’s Piceance Basin and
Peace River Arch regions, today announced that it has closed the
initial tranche of an industry-standard bridge loan commitment of
up to C$ 2MM from a principal and director of the Company. These
funds will provide a flexible source of capital to support the
current 2015 initiatives of the company. The independent members of
the Board of Directors approved the loan agreement and the
principal and director appropriately abstained from voting in the
loan transaction.
The Company is very pleased to announce that James Dai has been
invited to join the Board of Directors, increasing its membership
from five to six. Mr. Dai, a resident of Vancouver BC, holds both
CPA and CFA designations; a Bachelor of CSc. from UBC, where he
received the Martin Frauendorf Prize for Leadership, subsequently
interning with Panasonic, Microsoft and E-GEMS Research. He has a
graduate degree from MIT where he is Fellow of both the Canadian
National NSERC and MIT Media Lab. Mr. Dai is currently the CFO of
four private and public companies focused in the lumber, O&G,
mining and biotech sectors of Western Canada, where he continues to
represent the interests of international capital including a
prominent Asia-based investor that has been making strategic
investments in the North American market for the last three years.
Prior to this engagement, Mr. Dai completed a corporate finance
tenure with investment dealer Raymond James.
“We are very pleased with both the continued developmental
success of our core projects and Mr. Dai’s addition to the Board of
Directors. He will provide an access to the international community
that could assist Dejour to further maximize the value of our
portfolio of energy properties. This year, we expect to see
production growth from at least 10 new wells, including a strategic
new Mancos/ Niobrara indicated discovery, as we further delineate
our extensive inventory of drillable PUD’s and multiple as yet
untapped exploitation leases offering excellent longer term
potential,” stated Robert L. Hodgkinson, Chairman & CEO.
Pursuant to NYSE MKT Company Guide Section 610(b) the Company
discloses that its audited consolidated financial statements for
the fiscal year ended December 31, 2014, included in the Company's
Form 6-K, which was filed on March 6, 2015 with the Securities and
Exchange Commission, contained an audit opinion from its
independent registered public accounting firm that included a going
concern qualification.
About DejourDejour Energy Inc. is an independent oil and
natural gas exploration and production company operating projects
in North America’s Piceance Basin (43,500 net acres) and Peace
River Arch regions (16,000 net acres). Dejour maintains offices in
Denver, USA, Calgary and Vancouver, Canada. The company is publicly
traded on the New York Stock Exchange Amex (NYSE MKT: DEJ) and
Toronto Stock Exchange (DEJ.TO).
Statements Regarding Forward-Looking Information: This
news release contains statements about oil and gas production and
operating activities that may constitute "forward-looking
statements" or “forward-looking information” within the meaning of
applicable securities legislation as they involve the implied
assessment that the resources described can be profitably produced
in the future, based on certain estimates and assumptions.
Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks,
uncertainties and other factors that could cause actual results to
differ materially from those anticipated by Dejour and described in
the forward-looking statements. These risks, uncertainties
and other factors include, but are not limited to, adverse
general economic conditions, operating hazards, drilling risks,
inherent uncertainties in interpreting engineering and geologic
data, competition, reduced availability of drilling and other well
services, fluctuations in oil and gas prices and prices for
drilling and other well services, government regulation and foreign
political risks, fluctuations in the exchange rate between Canadian
and US dollars and other currencies, as well as other risks
commonly associated with the exploration and development of oil and
gas properties. Additional information on these and other factors,
which could affect Dejour’s operations or financial results, are
included in Dejour’s reports on file with Canadian and United
States securities regulatory authorities. Other risks include the
Company’s ongoing review by NYSE MKT (“the Exchange”) to ensure the
Company continues to regain compliance with Section 100 3(a)(iv) of
the Company Guide which addresses a Company’s ability to operate as
a going concern. We assume no obligation to update forward-looking
statements should circumstances or management's estimates or
opinions change unless otherwise required under securities law.
The TSX does not accept responsibility for the adequacy or
accuracy of this news release.
Follow Dejour Energy’s latest developments on: Facebook
http://facebook.com/dejourenergy and Twitter @dejourenergy
Dejour Energy Inc.Robert L. Hodgkinson,
604-638-5050Chairman & CEOFacsimile:
604-638-5051investor@dejour.comorCraig Allison,
914-882-0960Investor Relations – New Yorkcallison@dejour.com
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