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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Empower Clinics Inc (CE) | USOTC:EPWCF | OTCMarkets | 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% | 0.000001 | 0.00 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE
SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2014
Commission File No. 000-30087
ADIRA ENERGY LTD.
(Translation of registrant's name into English)
120 Adelaide Street West, Suite 800, Toronto, Ontario,
Canada M5H 1T1
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) [ ]
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
SUBMITTED HEREWITH
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ADIRA ENERGY LTD.
Date: October 6, 2014
/s/ Alan Friedman
________________________________________
Alan Friedman
Executive
Vice President, Corporate Development
![]() |
Suite 800 - 120 Adelaide St. W |
Toronto, Ontario | |
M5H 1T1 | |
www.adiraenergy.com | |
t. 416.361.2211 | |
f.416.361.6455 | |
TSX.V: ADL |
News Release
ADIRA ENERGY COMPLETES SHARE CONSOLIDATION AND
ANNOUNCES EXPIRATION OF THE GABRIELLA
LICENSE
TORONTO, September 29, 2014 /CNW/ - ADIRA ENERGY LTD. (TSXV: ADL) (OTCBB: ADENF) (FRANKFURT: 0AM1). Adira Energy Ltd. (Adira or the Company) announces that, further to its news release dated July 14, 2014, the TSX Venture Exchange (the Exchange) has approved the consolidation of the Companys issued and outstanding common shares (the Shares) on the basis of one (1) post-consolidation Share for every five (5) pre-consolidation Shares (the Consolidation).
The Consolidation will be effective September 29, 2014, (the Effective Date) and the Shares will begin trading on a consolidated basis on Wednesday, October 1, 2014. The Consolidation was approved by shareholders at the Companys Annual and Special Meeting held on August 12, 2014. The 61,460,318 pre-Consolidation Shares will be consolidated to 12,292,021 post-Consolidation Shares. No fractional Shares will be issued as a result of the Consolidation. Any resulting fractional post-Consolidation Shares will be rounded down to the nearest whole Share. The exercise price and the number of Shares issuable under any of the Companys outstanding Share purchase warrants and incentive stock options will be proportionately adjusted to reflect the Consolidation. For a period of approximately two weeks following the Effective Date, the Companys symbol on the OTCBB will be changed to ADEND.
The Company has been informed by its joint venture partner that the Petroleum Commissioner in the Ministry of National Infrastructure, Energy and Water of the State of Israel provided notice that Petroleum License No. 378 (the Gabriella License) has expired due to the milestones in the work program not being achieved. Notice was also provided that the Yam Hadera License has expired for the same reasons. The Company held a 15% interest in the Gabriella License and had an option to acquire up to a 15% interest in the Yam Hadera License. The Company continues to hold a 15% interest in Petroleum License No. 380 (the Yitzhak Licence).
About Adira Energy Ltd.
Adira Energy Ltd. is an oil and gas company which is focused in the Eastern Mediterranean. The Company has one petroleum exploration licenses offshore Israel, the Yitzhak license, located 17 km offshore between Hadera and Netanya.
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed forward-looking statements. All statements in this press release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on the Companys internal projections, estimated or beliefs, concerning, among other things an outlook on the estimated amounts and timing of exploration work and capital expenditures or other expectation, beliefs, plans, objectives, assumption, intentions or statements about future events or performance, which are considered by management to be reasonable at the time made. Actual events or results may differ materially. Although the Company believes that the expectations reflected in the statements are reasonable, it cannot guarantee future results since such results are inherently subject to significant business, economic, corporate, political and social uncertainties and contingencies. Many factors cause the Companys 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 stated factors are not exhaustive. The statements contained herein are made as of the date hereof and the Company 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, except as required by applicable law. Company shareholders and potential investors should carefully consider the information contained in the Companys filing with Canadian securities administrators at www.sedar.com before making investment decisions with regard to the Company.
1
For more information contact:
Canada
Alan Friedman
Exec. Vice President
afriedman@adiraenergy.com
+1 416 250 1955
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.
2
FORM 51-102F3
MATERIAL CHANGE REPORT
ITEM 1 | Name and Address of Company |
Adira Energy Ltd. (the Company) | |
120 Adelaide Street West | |
Suite 800 | |
Toronto, ON | |
M5H 1T1 | |
ITEM 2 |
Date of Material Change |
| |
September 29, 2014 | |
| |
ITEM 3 |
News Release |
| |
A news release was disseminated on September 29, 2014 through CNW Group Ltd. | |
| |
ITEM 4 |
Summary of Material Change |
| |
The Company has completed a consolidation of its issued and outstanding common shares (the Shares) on the basis of one (1) post-consolidation Share for every five (5) pre-consolidation Shares (the Consolidation). | |
| |
ITEM 5 |
Full Description of Material Change |
| |
The Company has completed a consolidation of its issued and outstanding Shares on the basis of one (1) post-consolidation Share for every five (5) pre-consolidation Shares. | |
| |
The Consolidation was effective September 29, 2014, and the Shares began trading on a consolidated basis on Wednesday, October 1, 2014. The Consolidation was approved by shareholders at the Companys Annual and Special Meeting held on August 12, 2014. The 61,460,318 pre-Consolidation Shares were consolidated to 12,292,021 post- Consolidation Shares. No fractional Shares were issued as a result of the Consolidation. Any resulting fractional post-Consolidation Shares were rounded down to the nearest whole Share. The exercise price and the number of Shares issuable under any of the Companys outstanding Share purchase warrants and incentive stock options were proportionately adjusted to reflect the Consolidation. | |
| |
ITEM 6 |
Reliance on Section 7.1(2) of National Instrument 51-102 |
| |
N/A | |
| |
ITEM 7 |
Omitted Information |
| |
N/A | |
| |
ITEM 8 |
Executive Officer |
| |
For further information, please contact: |
Alan Friedman, Executive Vice-President Corporate Development | |
(416) 250- 1955 | |
ITEM 9 | Date of Report |
October 1, 2014 |
FORM 51-102F3
MATERIAL CHANGE REPORT
ITEM 1 | Name and Address of Company |
Adira Energy Ltd. (the Company) | |
120 Adelaide Street West | |
Suite 800 | |
Toronto, ON | |
M5H 1T1 | |
| |
ITEM 2 |
Date of Material Change |
| |
September 27, 2014 | |
| |
ITEM 3 |
News Release |
| |
A news release was disseminated on September 29, 2014 through CNW Group Ltd. | |
| |
ITEM 4 |
Summary of Material Change |
| |
Petroleum License No. 378 (the Gabriella License) has expired due to the milestones in the work program not being achieved. | |
| |
ITEM 5 |
Full Description of Material Change |
| |
The Company has been informed by its joint venture partner that the Petroleum Commissioner in the Ministry of National Infrastructure, Energy and Water of the State of Israel provided notice that the Gabriella License has expired due to the milestones in the work program not being achieved. Notice was also provided that the Yam Hadera License has expired for the same reasons. The Company held a 15% interest in the Gabriella License and had an option to acquire up to a 15% interest in the Yam Hadera License. | |
| |
ITEM 6 |
Reliance on Section 7.1(2) of National Instrument 51-102 |
| |
N/A | |
| |
ITEM 7 |
Omitted Information |
| |
N/A | |
| |
ITEM 8 |
Executive Officer |
| |
For further information, please contact: | |
| |
Alan Friedman, Executive Vice-President Corporate Development | |
| |
(416) 250- 1955 | |
| |
ITEM 9 | Date of Report |
October 1, 2014
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