VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 28, 2013) – Blackbird Energy Inc. (TSX VENTURE:BBI) (“Blackbird” or the “Company“) announced today that due to demand, it is increasing the size of its previous announced private placement (the “Private Placement“) from $1,500,000 to aggregate gross proceeds of up to $2,500,000.
The Company is increasing the unit portion of the Private Placement by $1,000,000 for a total unit offering of up to $2,000,000. In addition, the units will now consist of one common share and one full warrant with an extended exercise period of five years. The Canadian Exploration Expense (“CEE“) flow-through portion of the Private Placement will remain at $500,000. All other terms of the Private Placement such as pricing, remain the same.
The Private Placement is expected to close on or about November 5, 2013 and is subject to approval from the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Saskatchewan and Alberta, Canada. The Company is managed by a proven technical team. Blackbird trades on the TSX Venture Exchange under the symbol BBI.
Blackbird’s team is focused on originating new high quality oil projects through the assembly of land positions in Saskatchewan and Alberta.
For more information please visit the company’s website and view the corporate presentation at www.blackbirdenergyinc.com.
On behalf of the board of
BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Private Placement. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration and production, (3) a decreased demand for natural gas, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Blackbird Energy Inc.
President & CEO