Desmarais Energy Corporation
TSX VENTURE : DES

Desmarais Energy Corporation

August 08, 2012 16:48 ET

Desmarais Energy Corporation Announces Closing of Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - Aug. 8, 2012) -

NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

Desmarais Energy Corporation ("Desmarais" or the "Corporation") (TSX VENTURE:DES) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement"). Pursuant to the Private Placement, the Corporation issued 300,000 common shares ("Common Shares") at a price of $0.05 per share for aggregate proceeds of $15,000.

The Common Shares issued pursuant to the Private Placement are subject to a hold period of four months and one day from the closing date.

The proceeds of the Private Placement will be used for general corporate purposes.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including the use of proceeds from the Private Placement. These forward-looking statements are based upon the opinions, expectations, estimates and assumptions of management as at the date the statements are made, including, without limitation, assumptions with respect to the receipt of regulatory approval for the private placement and general economic conditions in North America and other business conditions. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the discretion of Desmarais' board for the use of proceeds and a failure to obtain necessary regulatory approvals. The statements in this news release are made as of the date of this release. We undertake no obligation to update such forward-looking information except as required by applicable securities laws.

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

Contact Information

  • Desmarais Energy Corporation
    Doug Robinson
    President and Chief Executive Officer
    (403) 265-8007