NiMin Energy Corp.
TSX : NNN

NiMin Energy Corp.

September 11, 2009 18:33 ET

NiMin Energy Corp. Announces Closing of an Additional 75,000 Units

CARPENTERIA, CALIFORNIA--(Marketwire - Sept. 11, 2009) -

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

NiMin Energy Corp. (TSX:NNN) (formerly NiMin Capital Corp., TSX-V: NNI.P) ("NiMin" or the "Corporation"). Further to the Corporation's press release dated September 8, 2009, the Corporation is pleased to announce the closing of a second tranche of the public offering of an additional 75,000 units of the Corporation ("Units") by way of prospectus (the "Prospectus") for aggregate proceeds of $93,750 (the "Offering"). Each Unit consists of one (1) common share of the Corporation ("Common Share") and one (1) Common Share purchase warrant (a "Warrant"), with each one (1) whole Warrant entitling the holder thereof to purchase one (1) Common Share at a per-share price of $1.55 until September 12, 2011, subject to certain acceleration provisions.

The proceeds of the Offering, together with the proceeds raised pursuant to the first tranche of the public offering of Units, which closed on September 4, 2009, will be used by the Corporation to pay costs associated with the acquisition (the "Acquisition") of all of the issued and outstanding securities of Legacy Energy, Inc. ("Legacy"), costs of the Offering, costs associated with financing the business of the Corporation, exploration and development activities on their prospects in California, for general working capital purposes and for other general corporate purposes, including potential acquisitions in the western United States.

NiMin is an independent oil and natural gas company with drilling and production operations in the States of California and Louisiana.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to the expenditure of funds acquired by the Corporation in connection with the Offering. Although the Corporation believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. These factors and assumptions are based upon currently available information to the Corporation. 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. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, the Corporation 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 Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Legacy or their respective financial or operating results or (as applicable), their securities. Additional information identifying risks and uncertainties is contained in filings of the Corporation with Canadian securities regulators, which filings are available under the Corporation's profile at www.sedar.com.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

Contact Information

  • NiMin Energy Corp.
    Clarence Cottman III
    Chief Executive Officer
    (805) 566-2900
    or
    NiMin Energy Corp.
    Jonathan S. Wimbish CFA
    Chief Financial Officer
    (805) 566-2900
    (805) 566-2917 (FAX)