Huntington Exploration Inc.

Huntington Exploration Inc.

October 14, 2014 18:24 ET

Huntington Announces Completion of Acquisition of Regency Metals Corp.

CALGARY, ALBERTA--(Marketwired - Oct. 14, 2014) - Huntington Exploration Inc. ("HEI" or the "Corporation") (TSX VENTURE:HEI) announced today that, further to its press release dated September 17, 2014, HEI has acquired (the "Acquisition") Regency Metals Corp. ("Regency"), a private arm's length Alberta company, subject to TSX Venture Exchange final approval. The Acquisition was completed pursuant to the terms of the amalgamation agreement (the "Amalgamation Agreement") among Regency, HEI and a wholly-owned subsidiary of HEI, whereby Regency amalgamated with the wholly-owned subsidiary of HEI, and continues as one wholly-owned subsidiary of the Corporation. Under the terms of the Amalgamation Agreement, Regency shareholders are entitled to receive approximately 2.916 common shares of HEI ("HEI Shares") for every one (1) Regency common share.

In connection with the Acquisition, HEI will issue approximately 47,681,369 HEI Shares to the former Regency shareholders. In addition, the holders of the 18,411,000 common share purchase warrants of Regency are entitled to purchase an aggregate of up to 53,688,562 HEI Shares at exercise prices ranging from of $0.05 to $0.075 per HEI Share and the holders of the 1,800,000 stock options of Regency are entitled to purchase an aggregate of up to 5,249,004 HEI Shares at an exercise price of $0.05 per HEI Share.

The Corporation also intends to close the first tranche of its previously announced non-brokered private placement offering of units ("Units") by Friday October 17, 2014 and to close a final tranche of the offering by October 31, 2014.

Forward Looking Statements

This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding HEI's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond HEI's and Regency's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although HEI believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. 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 information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, HEI 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.

HEI is an exploration-focused company actively pursuing opportunities in the oil and natural gas business in the Western Canada sedimentary basin.

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

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