Leucrotta Exploration Inc.
TSX VENTURE : LXE

Leucrotta Exploration Inc.

September 15, 2014 06:00 ET

Leucrotta Exploration Inc. Announces Completion of Non-Brokered Private Placement of Units

CALGARY, ALBERTA--(Marketwired - Sept. 15, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Leucrotta Exploration Inc. ("Leucrotta") (TSX VENTURE:LXE) is pleased to announce the completion of its previously announced offering of 7.65 million units of Leucrotta ("Units"), on a non-brokered private placement basis, to certain officers, employees and directors of Leucrotta, at a price of $1.70 per Unit for aggregate gross proceeds of approximately $13 million (the "Offering"), as described in the joint information circular of Crocotta Energy Inc. ("Crocotta") and Long Run Exploration Ltd. ("Long Run") dated July 7, 2014 with respect to a plan of arrangement under the Business Corporations Act (Alberta) involving Crocotta, Long Run and Leucrotta which was completed on August 6, 2014. Each Unit is comprised of one common share of Leucrotta and one common share purchase warrant of Leucrotta (a "Warrant"). Each Warrant is exercisable into one common share of Leucrotta at a price of $2.04, vests equally over three years and has a five-year term from the date of issuance.

Forward-Looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information.

Although Leucrotta believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty and environmental legislation. The forward-looking statements and information contained in press release are made as of the date hereof for the purpose of providing the readers with Leucrotta's expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. Leucrotta undertakes no obligation 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.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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

  • Leucrotta Exploration Inc.
    Mr. Robert J. Zakresky
    President and Chief Executive Officer
    (403) 705-4525

    Leucrotta Exploration Inc.
    Mr. Nolan Chicoine
    Vice President, Finance and Chief Financial Officer
    (403) 705-4525

    Leucrotta Exploration Inc.
    Suite 700, 639 - 5th Avenue SW
    Calgary, Alberta T2P 0M9
    (403) 705-4525
    (403) 705-4526 (FAX)