TIDMSDX
RNS Number : 2990V
SDX Energy Inc.
27 January 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE COMMON SHARES IN SDX IN
THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY
OTHER JUSRISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD
BE UNLAWFUL. THE SECURITIES OF SDX HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE US SECURITIES ACT OF 1933 AS AMENDED (THE
"SECURITIES ACT"), OR QUALIFIED FOR SALE UNDER THE LAW OF ANY STATE
OR OTHER JURISDICTION OF THE UNITED STATES AND MAY NOT BE OFFERED
OR SOLD IN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT. THE COMPANY DOES NOT INTEND TO REGISTER ANY
SECURITIES UNDER THE SECURITIES ACT, AND NO PUBLIC OFFERING OF
SECURITIES IN THE UNITED STATES WILL BE MADE.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"),
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
For Immediate Release 27 January 2017
SDX ENERGY INC.
("SDX" or the "Company")
Completion of the Fundraising and Acquisition
Further to its announcements released on 24 and 25 January 2017
concerning the Fundraising and Acquisition (the "Acquisition
Announcements"), the Board of SDX Energy Inc. (TSXV, AIM: SDX), the
Egypt focused oil and gas company, is pleased to announce that
following completion of the Fundraising and Admission, which took
place earlier today, completion of the Acquisition of the Circle
Assets has also now successfully taken place.
Paul Welch, President and CEO of SDX, commented:
"This announcement marks an important milestone in SDX's
corporate history. The successful fundraise and acquisition will
enable us to substantially increase our production, and cash flow,
over the course of 2017 and beyond as we seek to build a mid-tier
E&P focused on North Africa. We remain excited about our
upcoming drilling campaign in South Disouq and look forward to
updating our new and existing stakeholders on the Company's
progress over the coming months."
About SDX
SDX is an international oil and gas exploration, production and
development company, headquartered in London, England, UK, with a
principal focus on North Africa. In Egypt, SDX Energy has a working
interest in two producing assets (50% North West Gemsa & 50%
Meseda) located onshore in the Eastern Dessert, adjacent to the
Gulf of Suez. In Morocco, SDX has a 75% working interest in the
Sebou concession situated in the Rharb Basin. These producing
assets are characterised by exceptionally low operating costs
making them particularly resilient in a low oil price environment.
SDX Energy's portfolio also includes high impact exploration
opportunities in Egypt and Morocco.
For further information, please see the website of the Company
at www.sdxenergy.com or the Company's filed documents at
www.sedar.com.
Unless otherwise defined, capitalised terms used in this
announcement have the same meaning as set out in the Acquisition
Announcements.
For further information:
SDX Energy Inc.
Paul Welch
President and Chief Mark Reid
Executive Officer Chief Financial Officer
Tel: +44 203 219 5640 Tel: +44 203 219 5640
Cantor Fitzgerald Europe (Nominated Adviser
& Joint Bookrunner)
Sarah Wharry/Craig Francis
Tel: +44 207 7894 7000
GMP FirstEnergy (Financial Adviser & Joint
Bookrunner)
Jonathan Wright/David van Erp
Tel: +44 207 448 0200
Stifel Nicolaus Europe Limited (Joint Bookrunner)
Ashton Clanfield/Callum Stewart
Tel: +44 207 710 7600
Celicourt (PR)
Mark Antelme/Joanna Boon / Jimmy Lea
Tel: +44 207 520 9260
Disclosures
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the polices of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cantor Fitzgerald Europe which is authorised and regulated in
the United Kingdom by the FCA, is acting for the Company and for no
one else in connection with the Placing and will not be responsible
to anyone other than the Company for providing the protections
afforded to Cantor Fitzgerald's clients, or for providing advice in
relation to the Placing, or any other matters referred to
herein.
FirstEnergy Capital LLP which is authorised and regulated in the
United Kingdom by the FCA, is acting for the Company and for no one
else in connection with the Placing and will not be responsible to
anyone other than the Company for providing the protections
afforded to FirstEnergy Capital LLP's clients, or for providing
advice in relation to the Placing, or any other matters referred to
herein.
Stifel Nicolaus Europe Limited which is authorised and regulated
in the United Kingdom by the FCA, is acting for the Company and for
no one else in connection with the Placing and will not be
responsible to anyone other than the Company for providing the
protections afforded to Stifel's clients, or for providing advice
in relation to the Placing, or any other matters referred to
herein.
Inside Information
The information contained in this announcement is inside
information. If you have any queries on this, then please contact
Mark Reid, the Chief Financial Officer and Director of the Company
(responsible for arranging release of this announcement) at 38
Welbeck Street, London, W1G 8DP on +44 (0) 203 219 5640.
Forward Looking Statements
Certain statements contained in this press release constitute
"forward-looking statements" as such term is used in applicable
Canadian and US securities laws. These statements relate to
analyses and other information that are based upon forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning the
future prospects and strategy of the Company, and the results
referenced or implied herein should be viewed as forward-looking
statements.
Any statements that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or are not statements of
historical fact and should be viewed as "forward-looking
statements". All reserves and resources information contained
herein should be considered as forward looking statements. Such
forward looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such risks
and other factors include, among others, costs and timing of
exploration and production development, availability of capital to
fund exploration and development and political, social and other
risks inherent in carrying on business in Egypt and Morocco. There
can be no assurance that such statements will prove to be accurate
as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements
contained in this news release.
Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements and if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
Although SDX has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Investors are cautioned that
such forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those currently
anticipated. SDX's Annual Information Form for the year ended
December 31, 2015, filed on the Company's SEDAR profile on April
29, 2016, has a full description of the risks and uncertainties
associated with the Company's business, including its exploration
activities and these risk factors and uncertainties should be
referred to and read in their entirety. The forward-looking
statements contained herein are expressly qualified by this
cautionary statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBRMPTMBBTMMR
(END) Dow Jones Newswires
January 27, 2017 03:12 ET (08:12 GMT)
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