![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
New Zealand Energy Corp | TSXV:NZ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.10 | 15.38% | 0.75 | 0.66 | 0.94 | 0.75 | 0.74 | 0.74 | 1,500 | 21:12:18 |
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS New Zealand Energy Corp. (TSX VENTURE:NZ) ("NZEC" or the "Company"), an oil and natural gas company with exploration and development prospects in New Zealand, is pleased to announce that it has closed the over-allotment option related to its recently completed initial public offering. Pursuant to the over-allotment option, NZEC issued an additional 1,910,500 common shares at a price of $1.00 per common share, bringing the aggregate gross proceeds of the initial public offering to $21,910,500. In connection with the closing of the over-allotment option, the syndicate of agents led by Canaccord Genuity Corp. and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Haywood Securities Inc. and NCP Northland Capital Partners Inc. (collectively, the "Agents"), received a 6% cash commission on the proceeds from the sale of common shares. Warrants were also issued totaling 3% of the common shares issued pursuant to the over-allotment option, and are exercisable at $1.00 until February 3, 2013. Net proceeds of the initial public offering and over-allotment option will be used to explore and develop NZEC's oil and gas properties, for additional geologic and technical studies and for general corporate purposes. The common shares offered pursuant the over-allotment option were qualified for distribution pursuant to the long form prospectus of the Company dated July 19, 2011 and filed in each of the provinces of Canada, other than Quebec. The long form prospectus that details the current affairs on the Company, the comprehensive work program and further information on the initial public offering and over-allotment option, is available on SEDAR (www.sedar.com), on the Company's website (www.newzealandenergy.com) or by contacting NZEC at info@newzealandenergy.com. ABOUT NEW ZEALAND ENERGY NZEC is an oil and natural gas company engaged in the exploration, acquisition and development of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers nearly two million acres in the Taranaki Basin and East Coast Basin of New Zealand's North Island. NZEC holds two petroleum exploration permits (Eltham Permit and Castlepoint Permit) and a 50% interest in a petroleum exploration permit (Alton Permit, pending completion of certain conditions), one pending petroleum exploration permit pursuant to an assignment agreement (Ranui Permit), and one pending non-competitive petroleum exploration permit application (East Cape Permit). The Company's management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration program focusing on the discovery of onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. The Company's strategy is to develop its existing portfolio of assets and to pursue further exploration opportunities in other areas with proven hydrocarbon systems. NZEC will continue to evaluate strategic acquisitions from time to time where it views further exploration and development opportunities exist, and may participate in future tenders offered by the Government of New Zealand to acquire additional petroleum exploration permits or petroleum mining permits. On behalf of the Board of Directors John Proust, Chief Executive Officer and Director Forward-looking Statements This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will be" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including without limitation, the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associated with estimating oil and natural gas resources; changes in the cost of operations, including cots of extracting and delivering oil and natural gas to market, that affect potential profitability of oil and natural gas exploration; operating hazards and risks inherent in oil and natural gas operations; volatility in market prices for oil and natural gas; market conditions that prevent the Company from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors discussed under "Risk Factors" in NZEC's Prospectus dated July 19, 2011. NZEC believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release and NZEC does not undertake to update any forward-looking statements that are contained in this news release, except in accordance with applicable securities laws. In addition, this news release may contain forward-looking statements attributed to third-party industry sources. United States Advisory This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, any securities of NZEC in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered hereunder have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States of America (the "United States") and, subject to certain exceptions, may not be offered or sold within the United States or its territories or possessions except in transactions exempt from registration under the U.S. Securities Act and under the securities laws of any applicable state. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States, its territories or possessions.
1 Year New Zealand Energy Chart |
1 Month New Zealand Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions