CALGARY, ALBEERTA--(BUSINESS WIRE)--
/NOT FOR DI STRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
Seven Generations Energy Ltd. (the "Company" or "7G") is pleased to announce that it has priced the initial public offering (the "Offering") of 45 million common shares of 7G at $18 per common share ("Offering Price") for aggregate gross proceeds to 7G of $810 million. 7G has filed a supplemented PREP prospectus dated October 29, 2014 (the "Prospectus") in respect of the Offering with the securities commissions of each of the provinces of Canada.
The Offering is being made through a syndicate of underwriters co-led and joint bookrun by RBC Capital Markets, Credit Suisse Securities (Canada), Inc. and Peters & Co. Limited (the "Co-Lead Underwriters") and includes BMO Nesbitt Burns Inc., CIBC World Markets Inc., Jefferies LLC, Scotia Capital Inc., TD Securities Inc., AltaCorp Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Cormark Securities Inc., FirstEnergy Capital Corp., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Raymond James Ltd. and Leede Financial Markets Inc., (collectively, with the Co-Lead Underwriters, the "Underwriters").
The Company has granted to the Underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an additional 6.75 million common shares at the Offering Price.
The Offering is expected to close on or about November 5, 2014, subject to customary closing conditions. Completion of the Offering is subj ect to, and conditional upon, the receipt of all necessary approvals, including regulatory approvals. The Company has received conditional listing approval for the listing of its common shares on the Toronto Stock Exchange (the "TSX") under the symbol "VII", subject to the Company fulfilling all of the listing requirements of the TSX.
The Offering is only made by the Prospectus. The Prospectus contains important detailed information about the securities being offered. Potential investors should read the Prospectus prior to making an investment decision. A copy of the Prospectus is available on the SEDAR website at www.sedar.com.
All shareholders who hold shares prior to completion of the Offering will be "locked-up" for 180 days following completion of the Offering. As a result, the transfer agent for the common shares, Computershare Investor Services Inc., will not process any transfer of shares which were issued prior to the Offering, during the 180 days following completion of the Offering.
This press release is not for distribution, directly or indirectly, in or into the United States(including its territories and possessions, any State of the United States and the District of Columbia) or any other jurisdiction outside Canada. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities offered pursuant to the Prospectus have not been 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 Statesand may not be of fered or sold within the United States other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.
About the Company
Seven Generations Energy Ltd. is an Alberta-based company engaged in the development of the Kakwa River Project (the "Project"). Located approximately 100 kilometres south of Grande Prairie, Alberta, the Project is a tight, liquids-rich gas and light oil project in the early stages of development. 7G has its corporate headquarters in Calgary, Alberta and its operations headquarters in Grande Prairie, Alberta.
This press release may contain "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements") regarding the Company. Any statements included in this press release that address activities, events or developments that the Company "expects," "believes," "plans," "projects," "estimates" or "anticipates" will or may occur in the future are forward-looking statements. Actual results may differ materially due to a variety of important factors. Among other items, such factors might include: planned and unplanned capital expenditures; changes in general economic conditions; uncertainties in reserve, resource and production estimates; unanticipated recovery or production problems; weather-related interference with business operations; the effects of delays in completion of, or shut-ins of, gas and liquids gathering systems, pipelines and processing facilities; potential costs associated with complying with new or modified regulations; oil and natural gas prices and competition; the impact of derivat ive positions; production expense estimates; cash flow and cash flow estimates; drilling and operating risks; the Company's ability to replace oil and gas reserves; and volatility in the financial and credit markets or in oil and natural gas prices. Except as required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Do not place undue reliance on forward-looking statements.Return to News Release Listing