Caza Oil & Gas, Inc.
TSX : CAZ
AIM : CAZA

Caza Oil & Gas, Inc.

March 16, 2015 03:00 ET

Caza Oil & Gas, Inc.: Issue of Equity

HOUSTON, TEXAS--(Marketwired - March 16, 2015) - Caza Oil & Gas, Inc. ("Caza" or the "Company") (TSX:CAZ) (AIM:CAZA) is pleased to announce that it has received the entire aggregate initial tranche of US$4,000,000 in accordance with the terms of the US$5,000,000 convertible unsecured loan between the Company and YA Global Master SPV Ltd., an investment fund managed by Yorkville Advisors Global, LP ("YAG"), and Global Market Neutral Strategies SICAV P.L.C. ("GMNS"), which was announced on February 19, 2015.

The Company has also issued an aggregate of 4,752,091 common shares (the "New Common Shares"), 2,929,943 to YAG and 1,822,148 to GMNS, at a price of £0.0568 per share in full satisfaction of the implementation fee payable by the Company in connection with the initial tranche under the Loan Agreement. As a result of receiving the entire first tranche, the Company's previously announced amendment to its Note Purchase Agreement with Apollo Investment Corporation is also now effective.

Application has been made to the London Stock Exchange for the New Common Shares, which will rank pari passu with the Company's outstanding common shares, to be admitted to trading on AIM, and admission is expected to become effective on March 20, 2015.

Following admission, the Company will have 241,107,975 common shares outstanding. The figure of 241,107,975 common shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the Financial Services Authority's Disclosure and Transparency Rules.

About Caza

Caza is engaged in the acquisition, exploration, development and production of hydrocarbons in the following regions of the United States of America through its subsidiary, Caza Petroleum, Inc.: Permian Basin (Southeast New Mexico and West Texas) and Texas and Louisiana Gulf Coast (on-shore).

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

ADVISORY STATEMENT

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "schedule", "continue", "estimate", "expect", "may", "will", "hope", "project", "predict", "potential", "intend", "could", "might", "should", "believe", "develop", "test", "anticipation" and similar expressions. In particular, information regarding the price, issuance and admission to trading of New Common Shares contained in this news release constitutes forward-looking information within the meaning of securities laws.

Such forward looking information is subject to certain risks, assumptions and uncertainties including the assumption that the conversion notice and issuance of New Common Shares disclosed herein shall be completed in accordance with the convertible loan agreement. For more exhaustive information on these risks, assumptions and uncertainties you should refer to the Company's most recently filed annual information form which is available at www.sedar.com and the Company's website at www.cazapetro.com. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as may be required by securities laws.

This news release is not for dissemination in the United States or to any United States news services. The New Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Caza Oil & Gas, Inc.
    Michael Ford, CEO
    +1 432 682 7424

    Caza Oil & Gas, Inc.
    John McGoldrick, Chairman
    +351 282 471 010 (Portugal)

    Cenkos Securities plc
    Nick Tullo
    +44 131 220 9772 (Edinburgh)

    Cenkos Securities plc
    Neil McDonald
    +44 131 220 6939 (Edinburgh)

    Vigo Communications
    Chris McMahon
    +44 20 7016 9570