CALGARY, ALBERTA--(Marketwired - April 2, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Standard Exploration Ltd. (the "Corporation") (TSX VENTURE:SDE) announces that it has settled outstanding indebtedness owed to Brian Korney, Robert Mason, Pat Powell and John McGilvary, each a director of the Corporation, in an aggregate amount of $60,000 through the issuance of a total of 1,200,000 common shares of the Corporation at a deemed price of $0.05 per share. The common shares issued pursuant to the transaction are subject to a four-month hold period expiring August 2, 2013.
The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the common shares (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
The completion of the transaction is subject to TSX Venture Exchange acceptance and other regulatory approval.
The Corporation is a Canadian based oil and gas corporation with operations in Alberta, Canada and is traded on TSX Venture Exchange. The Corporation's public filings may be found at www.sedar.com.
This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that terms is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.