Shoreline Energy Corp.
TSX : SEQ

Shoreline Energy Corp.

April 17, 2013 06:30 ET

Shoreline Energy Corporation Announces Flow-Through Private Placement Financing

CALGARY, ALBERTA--(Marketwired - April 17, 2013) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") is pleased to announce that it has entered into an agreement with Casimir Capital Ltd. (the "Agent") to act as agent with respect to a private placement, on a reasonable commercial efforts basis, of up 1,250,000 common shares of the Corporation, issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a subscription price of $4.00 per Flow-Through Share for gross proceeds of up to $5 million (the "Offering"). The Company has also granted the Agent an option, exercisable at any time prior to 5:00 p.m. (Calgary time) on the business day prior to the closing of the Offering, to place up to an additional 187,500 Flow-Through Shares. The Offering is anticipated to close on or about May 1, 2013. Shoreline intends to use the proceeds of the Offering to incur eligible Canadian exploration expenditures that will be renounced to subscribers effective on or before December 31, 2013.

All of the securities issued in connection with the Offering will be subject to a four-month hold period under applicable Canadian securities laws.

About Shoreline Energy

Investor Information

Currently, Shoreline has 7,619,696 common shares outstanding. Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline has a proven track record of increasing asset value in Canada, through a combination of drilling and acquisition, and has recently acquired a strategic high impact interest in the Wattenberg Field, where currently a large scale oil development program is targeting oil resources in the Niobrara and Codell formations. In addition to increasing oil and gas asset value, since its initial public offering in May 2011, the Company has paid $0.96 per share via six quarterly dividends. The Company's common shares and convertible debentures are currently listed on the TSX under the trading symbols "SEQ" and "SEQ.DB" respectively. Additional information regarding Shoreline is available under the Company's profile at www.sedar.com or at the Company's website, www.shorelineenergy.ca.

Forward-Looking and Cautionary Statements

This news release contains forward-looking statements relating to the completion and terms of the Offering. Forward-looking statements typically use words such as "will", "anticipate", "believe", "estimate", "expect", "intend", "may", "project", "should", "plan", and similar expressions suggesting future outcomes, and include statements that actions, events or conditions "may", "would", "could", or "will" be taken or occur in the future. The forward-looking statements are based on various assumptions including expectations regarding the success of current or future drill wells; the outlook for petroleum and natural gas prices; estimated amounts and timing of capital expenditures; estimates of future production; assumptions concerning the timing of regulatory approvals; the state of the economy and the exploration and production business; results of operations; business prospects and opportunities; future exchange and interest rates; the Company's ability to obtain equipment in a timely manner to carry out development activities; and the ability of the Company to access capital and credit. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements are subject to a wide range of assumptions, known and unknown risks and uncertainties and other factors that contribute to the possibility that the predicted outcome will not occur, including, without limitation: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; loss of markets; volatility of commodities prices; currency fluctuations; imprecision of reserves estimates; environmental risks; competition from other producers; inability to retain drilling rigs and other services; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; general economic conditions; delays resulting from or inability to obtain required regulatory approvals and to satisfy various closing conditions; and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.

Although Shoreline believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not rely unduly on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable law, Shoreline does not undertake any obligation to publicly update or revise any forward-looking statements.

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