SDX Energy Inc. Update on Potential Acquisition (4080E)

TIDMSDX

RNS Number : 4080E

SDX Energy Inc.

18 October 2018

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.

18 October 2018

SDX ENERGY INC.

("SDX" or the "Company")

Update on Potential Acquisition

SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, announces that, further to the announcement made on 20 September 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.

As the Acquisition is no longer proceeding, the suspension of the Company's shares from trading on AIM will be lifted from 7.30am on 18 October 2018. The Company has also requested for the restoration of trading on the TSX Venture Exchange.

SDX continues, in line with its stated strategy, to review and pursue inorganic growth opportunities across its areas of operations in North Africa.

- Ends -

For further information:

 
 SDX Energy Inc. 
  Paul Welch 
  President and Chief Executive       Mark Reid 
  Officer                              Chief Financial Officer 
  Tel: [phone]                Tel: [phone] 
 
   Stifel Nicolaus Europe Limited (Nominated Adviser and Joint 
   Broker) 
   Callum Stewart/Nicholas Rhodes/Ashton Clanfield 
   Tel: [phone] 
 Cantor Fitzgerald Europe (Joint Broker) 
  David Porter/Nick Tulloch 
  Tel: [phone] 
 GMP FirstEnergy (Joint Broker) 
  Jonathan Wright/David van Erp 
  Tel: [phone] 
 
  Celicourt (PR) 
  Mark Antelme/Jimmy Lea/Ollie Mills 
  Tel: [phone] 
 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This document contains certain statements that may constitute "forward-looking statements" as such term is used in applicable Canadian securities laws. 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 should be viewed as forward-looking statements. In particular, statements concerning the Company's strategy should be viewed as forward-looking statements. The forward-looking statements contained in this document are based on certain assumptions and although management of SDX consider these assumptions to be reasonable based on information currently available to them, undue reliance should not be placed on the forward-looking statements because SDX can give no assurances that they may prove to be correct. Numerous risks and uncertainties could also cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. SDX disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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October 18, 2018 02:30 ET (06:30 GMT)