The Company intends to use the net proceeds of the Offering to fund the purchase price of the Kobes asset acquisition in the Montney area of northeast British Columbia (the “Acquisition”), as previously announced on December 4, 2012, to partially fund ongoing capital expenditures and to fund potential future acquisitions.
Painted Pony is a Canadian oil and gas exploration company that trades on the TSX Venture Exchange under the symbol “PPY”. Subsequent to the closing of the Offering, Painted Pony has 88,051,760 Common Shares issued and outstanding.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The Common Shares issued have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration, or an applicable exemption therefrom.
Advisory
Certain information regarding Painted Pony set forth in this document, may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties, including the use of proceeds of the Offering, the closing of the Acquisition, that all conditions to closing in respect of the Acquisition will be satisfied or waived and that all regulatory approvals as required will be obtained in respect of the Acquisition. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Painted Pony’s control, including without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, industry conditions, volatility of commodity prices, environmental risks, the lack of availability of qualified personnel or management, inability to obtain drilling rigs or other services, capital expenditure costs, including drilling, completion and facility costs, unexpected decline rates in wells, wells not performing as expected, stock market volatility, delays resulting from our inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof. Readers are cautioned that the foregoing list of factors is not exhaustive. Painted Pony’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.
Additional information on these and other factors that could affect Painted Pony’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or Painted Pony’s website (www.paintedpony.ca).
The forward-looking statements contained in this document are made as at the date of this news release and Painted Pony does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.