CALGARY, ALBERTA--(Marketwire - Nov. 30, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Trilogy Energy Corp. ("Trilogy") (TSX:TET) announced today that it intends to conduct, subject to market and other conditions, a proposed private placement offering of $250 million aggregate principal amount of 7-year Senior Unsecured Notes (the "Notes"). The Notes will be direct senior unsecured obligations of Trilogy and as such will rank equal with all other present and future unsubordinated indebtedness of the Company. The Notes are being offered in each Province of Canada on a private placement basis in accordance with National Instrument 45-106 - Prospectus and Registration Exemptions, without the filing of a prospectus.
Trilogy intends to use the net proceeds from the offering for a non-permanent repayment of indebtedness under Trilogy's existing credit facility, capital expenditures and for general corporate purposes.
Scotiabank, RBC Capital Markets and BMO Capital Markets are acting as joint book runners and will lead a syndicate of underwriters in connection with the offering of the Notes. Closing of the offering is expected to occur on or about December 14, 2012.
The Notes have not been and will not be registered under any federal or state securities laws of the United States. Accordingly, the Notes may not be offered or sold within the United States, except in transactions exempt from the registration requirements of the federal and applicable state securities laws of the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction.
Trilogy is a growing petroleum and natural gas-focused Canadian energy corporation that actively develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's geographically concentrated assets are primarily low-risk, high working interest properties that provide abundant infill drilling opportunities and good access to infrastructure and processing facilities, many of which are operated and controlled by Trilogy. Trilogy's common shares are listed on the Toronto Stock Exchange under the symbol "TET".
Advisory Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. In particular, this news release contains forward-looking statements with respect to a proposed offering of Notes by Trilogy, the timing and completion of the proposed offering of Notes, the amount to be raised under the proposed offering of Notes and the use of proceeds from the offering. Although Trilogy believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on them because Trilogy can give no assurance that such expectations will prove to be correct. Assumptions have been made with respect to, among other things, general economic and market conditions. Factors that could cause actual results to differ materially from those set forward in the forward looking statements include, among other things, general economic and market conditions, industry conditions, market and commodity price volatility and Trilogy's financial and operational performance and results. Trilogy undertakes no obligation to update the forward-looking statements herein except as required by applicable laws.