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Questerre Energy Corporation
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Questerre announces proposed private placement
Return to News Releases1969-12-31
Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it intends to complete a private placement directed towards Norwegian and international institutional and accredited investors.
The placement will consist of the issuance of between 20 million and 30 million Common Shares of the Company. The placement will be priced in the context of the market and will be carried out through a book building process that will close no later than 08:30 (CET) on March 2, 2010 or earlier at the Company's discretion. The minimum subscription and allocation is shares with an aggregate purchase price equivalent to EUR 110,000. The result of the placement will be announced prior to start of stock exchange trading on Oslo Børs on March 2, 2010. The placement is subject to receipt of all requisite approvals.
Pareto Securities AS, DnB NOR Markets and Arctic Securities ASA have been appointed as the Company's financial advisors in connection with this placement.
The Company proposes to use the net proceeds from this placement to fund the continued assessment of the Utica shale gas discovery in the St. Lawrence Lowlands, Quebec.
Questerre Energy Corporation is an independent energy company focused on shale gas in North America. The Company is concentrated on establishing commerciality of its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec.
For further information, please contact:
Questerre Energy Corporation
Anela Dido, Investor Relations
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com
This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"). Although the Company believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to the Company. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking statements. As such, readers are cautioned not to place undue reliance on the forward looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful.