Lateral Capital Corp.

Lateral Capital Corp.

May 06, 2013 09:20 ET

Lateral Capital Corp. Announces Corporate Updates

CALGARY, ALBERTA--(Marketwired - May 6, 2013) -


Lateral Capital Corp. ("Lateral" or the "Company") (TSX VENTURE:LCP) announces the following corporate updates.

In connection with the Company's previously announced preliminary prospectus filed on February 13, 2013 relating to a fully marketed public offering of subscription receipts on a commercially reasonable efforts basis for minimum proceeds of $102 million and maximum proceeds of $115 million (the "Public Offering"), Stonecap Securities Inc. and Wolverton Securities Ltd. are acting as co-lead agents in connection with the Public Offering and the Company has engaged a financial advisor for investment banking services to offer the Subscription Receipts in the United States on a private placement basis. A copy of the Company's news release dated February 13, 2013 with respect to the Public Offering and the preliminary prospectus are available on SEDAR at

The final terms of the Public Offering, including aggregate proceeds and pricing, will be determined in the context of the market. In conjunction with marketing efforts the Company may supplement proceeds of the Public Offering with either or any combination of one or more private placements of preferred shares or debt instruments or with debt (including a debt facility).

In addition, the Company announces that the closing dates of the previously announced proposed acquisitions of certain petroleum and natural gas assets have been amended to May 9, 2013, with revised effective dates of February 1, 2013. Further amendments to extend the closing date may be necessary, details of which would be disclosed in a subsequent news release. Closing of the proposed acquisitions is subject to customary closing conditions, including TSX Venture Exchange ("Exchange") approval. Copies of the Company's news releases dated November 28, 2012 and December 14, 2012 announcing the acquisitions, as supplemented by subsequent news releases, are available on SEDAR at

The Company also announces that copies of its audited financial statements for the year ended December 31, 2012 and the related management's discussion and analysis as well as its statement of reserves data and other oil and gas information (together with the report of reserve data by the Company's independent qualified reserves evaluator and the report of management and directors of the Company on the oil and gas disclosure) are available on SEDAR at

Cautionary and Forward-Looking Statements

This news release is not an offer of the securities for sale in the United States. The securities described in this news release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities described in this news release in any state in which such offer, solicitation or sale would be unlawful.

This news release contains forwardlooking statements and forwardlooking information within the meaning of applicable securities laws including forward-looking statements relating to the potential proceeds of the Public Offering and either or any combination of one or more private placements of preferred shares or debt instruments, or debt (including a debt facility); the closing dates and effective dates of the proposed asset acquisitions; and the maturity date of the notes and the payment of bonus amounts in respect thereto. These statements relate to future events or future performance. All statements other than statements of historical fact may be forwardlooking statements or information. Forwardlooking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", believe", "would" and similar expressions.

With respect to forward-looking statements and forward-looking information contained in this news release, assumptions have been made regarding, among other things, the Company's ability to obtain required financing on acceptable terms and in timely manner and the satisfaction of all conditions to closing of the proposed asset acquisitions. Although the Company believes the assumptions reflected in the forward-looking statements are reasonable, undue reliance should not be placed on forward looking statements because Lateral can give no assurance that such expectations will prove to be correct.

Forward looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties including risks relating to the Company's ability to raise sufficient financing and to complete the proposed asset acquisitions and other risks described in the Company's amended and restated preliminary prospectus. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

The forward-looking statements included in this news release are expressly qualified by this cautionary statement and are made as of the date hereof and no undertaking is given to update publicly or revise any forwardlooking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX Venture Exchange.

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.

Contact Information

  • Lateral Capital Corp.
    Corbin Blume
    President & CEO
    (587) 350-7500
    (587) 350-7505 (FAX)

    Lateral Capital Corp.
    730, 1015 - 4th Street SW
    Calgary, Alberta T2P 2V7