Desmarais Energy Corporation
TSX VENTURE : DES

Desmarais Energy Corporation

July 31, 2012 17:16 ET

Desmarais Energy Corporation Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwire - July 31, 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 intends to conduct a non-brokered private placement of up to 300,000 common shares ("Common Shares") at a price of $0.05 per share for aggregate proceeds of up to $15,000 (the "Private Placement"), subject to the receipt of all applicable regulatory approvals.

The Common Shares issued pursuant to the Private Placement will be 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 statements regarding the number of common shares to be sold pursuant to the Private Placement and 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, risks that the Private Placement will not be completed or, if completed, not on the same terms as disclosed above, 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