Shoreline Energy Corp.
TSX : SEQ

Shoreline Energy Corp.

February 17, 2012 09:15 ET

Shoreline Energy Corporation Announces Quarterly Dividend

CALGARY, ALBERTA--(Marketwire - Feb. 17, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Shoreline Energy Corporation (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to announce that its Board of Directors has declared a Cdn $0.20 dividend per share in accordance with the quarterly dividend policy for holders of Shoreline Common Shares as follows;

Record Date Ex-Dividend Date Payment Date Dividend Per Share
March 30, 2012 March 28, 2012 April 17, 2012 Cdn$0.20

* The dividend is considered an "eligible dividend" for tax purposes.

Shoreline expects to pay a sustainable dividend on a quarterly basis, provided that any decision to pay dividends on the common shares will be made by the Board of Directors on the basis of Shoreline's cash flow from operating activities, earnings, financial requirements, commodity price levels, legal requirements and other conditions existing at such future times. Shoreline currently intends to designate all dividends to be "eligible dividends" for the purposes of the Income Tax Act (Canada) such that shareholders who are individuals will benefit from the enhanced gross-up and dividend tax credit mechanism under the Income Tax Act (Canada).

Currently, Shoreline has 5,640,882 common shares outstanding.

A corporate presentation is available on Shoreline's website at www.shorelineenergy.ca.

The Company is a publicly traded company on the TSX. Further information is available on SEDAR at www.sedar.com.

Forward Looking and Cautionary Statements

This news release contains forward-looking statements relating to the Corporation's plans and other aspects of the Corporation's anticipated future operations, strategies, financial and operating results and business opportunities, including the successful marketing and closing of the Offering. These forward-looking statements may include opinions, assumptions, estimates, management's assessment of value, reserves, future plans and operations.

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.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information

  • Shoreline Energy Corporation
    Mr. Trevor Folk
    Chief Executive Officer
    tfolk@shorelineenergy.ca

    Shoreline Energy Corporation
    Calgary Office
    Suite 400, 209-8th Ave SW
    Calgary, Alberta, T2P 1B8
    (403) 767-9066

    Shoreline Energy Corporation
    Toronto Office
    Suite 103, 145 King Street West
    Toronto, Ontario, M5H 1J8
    www.shorelineenergy.ca