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Share Name | Share Symbol | Market | Type |
---|---|---|---|
XXL Energy Corp | TSXV:XL | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.21 | 0.205 | 0.88 | 0 | 01:00:00 |
NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES XXL Energy Corp. (the "Company") reports correction to its prviously circylated press release dated July 18, 2008 (the "Previous Release") under the heading "Grant of Additional Stock Options." The Company has granted incentive stock options under its SOP to purchase an aggregate of 254,569 (and not 247,569 as incorrectly disclosed in the Previous Release) common shares of the Company to a number of recipients, including directors, officers, employees and consultants. In addition, the Company has conditionally granted an additional 366,180 incentive stock options of the Company to a number of recipients, including directors, officers, employees and consultants. This grant is subject to: (i) the closing of the Offering; (ii) receipt of all regulatory approvals; and (iii) receipt of disinterested shareholder approval at the Meeting of an increase in the fixed cap of the number of options that may be outstanding under the SOP. None of the 366,180 (and not 373,166 as incorrectly disclosed in the Previous Release) incentive stock options granted conditionally will be exercisable prior to all conditions to exercise being fulfilled. The options have an exercise price of $1.62 per share and a term of 5 years. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state laws or an exemption from such registration is available. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling securityholder and that will contain detailed information about the company and management, as well as financial statements. About XXL Energy Corp. XXL, headquartered in Houston, is an independent oil and gas exploration and development company focused in the Greater Green River Basin of Wyoming, the Columbia River Basin of Washington, the Piceance Basin of Colorado, the Great Basin of Nevada, and the Williston Basin of North Dakota. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company's assessment of its and its subsidiaries' future plans and operations, certain statements included in this press release may constitute forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate", "believe", "expect", "estimate" and similar expressions are generally intended to identify forward-looking statements. Similarly, forward-looking statements in this press release include, but are not limited to anticipated developments of the Company's drilling project in and the timing thereof, the Company's drilling project in and the timing thereof, capital investment levels and the allocation thereof, pipeline capacity, government royalty rates, reserve and resources estimates, the level of expenditures for compliance with environmental regulations, site restoration costs including abandonment and reclamation costs, exploration plans, acquisition and disposition plans including farmout plans, net cash flows, geographic expansion and plans for seismic surveys. In addition, please note that statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future. Such statements represent the Company's internal projections, estimates or beliefs concerning, among other things, an outlook on the estimated amounts and timing of capital expenditures, anticipated future debt levels and incentive fees or revenues or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. These statements are only predictions. Actual events or results may differ materially. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company and the foregoing list of important factors is not exhaustive. These forward-looking statements are made as of the date hereof disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Company shareholders and potential investors should carefully consider the information contained in the Company's filings with Canadian securities administrators at www.sedar.com before making investment decisions with regard to the Company.
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