CALGARY, ALBERTA--(Marketwired - April 6, 2017) -
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES, FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW
Jaguar Resources Inc. (TSX VENTURE:JRI) ("Jaguar" or the "Company") intends to issue Common shares for a total of $38 million USD (the "Financing"). The Financing consists of common shares issued at $1.20 CDN (actual CDN value will be determined based upon exchange rate at time of closing) $38 Million USD in proceeds. The funds will be used to develop oil and gas prospects in the Western Canadian Sedimentary Basin of Alberta. A portion of the funding will also be used for general corporate purposes. The majority of Jaguar's previous debt will be converted to common shares at $1.20 CDN. This is all subject to final TSX approval.
Jaguar Resources Inc. will also be opening an office in Orange County California which is considered an investment and business friendly environment. A majority of members of the Jaguar team will be locating to the California office and the Company will also be hiring a number of employees there. A 2% advisory fee will be paid on the proceeds. Jaguar has also incorporated four wholly owned subsidiaries called "Jaguar Energy LLC." in Delaware, Texas and California and "Jaguar Energy Inc." in the Grand Cayman as the corporation is evaluating additional opportunities outside of Canada for acquisitions and future production growth.
This release is not an offer of securities of the Company for sale in the United States. The common shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the common shares may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States.
Jaguar's business strategy is to seek to provide shareholders with growth by exploring the existing assets in Saskatchewan, Bannock Creek. Jaguar is also pursuing industry farm in drilling opportunities both within Canada and Worldwide. As part of its corporate strategy of acquiring additional assets, the Company is in the process of evaluating several potential transactions which individually or together could be material. The Company cannot predict whether any current or future potential opportunities will result in one or more transactions involving the Company. The Company may issue equity or utilize debt facilities to finance all or a portion of any such potential acquisitions and or drilling programs on its Saskatchewan lands and future Alberta land holdings.
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.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the resumption of trading of the Company's common shares on the Exchange. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company having adequate financial resources to satisfy all the requirements of the Exchange related to resumption of trading. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations without adequate capital, the Company's ability to raise further capital, the Company's ability to efficiently and successful explore and develop its properties, availability of drilling rigs, failure to interpret geological and geophysical information accurately, and the likelihood of those or any geological structures containing hydrocarbons. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSXV. The forward-looking statements or information contained in this news release is expressly qualified by this cautionary statement.