CALGARY, ALBERTA–(Marketwired – Sept. 16, 2014) – Blackbird Energy Inc. (TSX VENTURE:BBI) (“Blackbird” or the “Company“) is pleased to announce that it has successfully closed the previously announced disposition of 8.0 gross (3.5 net) sections of Montney rights, known as Blackbird’s Bigstone project, for net proceeds of $8.89 million after closing adjustments.
Garth Braun, Chief Executive Officer of Blackbird noted, “Blackbird is pleased to continue to add further focus to its Elmworth project through the disposition of non-core assets. With the above noted disposition, Blackbird has significantly strengthened its balance sheet as it begins to de-risk and delineate its Montney resource.”
Blackbird is also pleased to announce that Joshua Wylie has been appointed as Manager, Land.
Mr. Wylie’s career has been focused on working as a Landman for junior and small intermediate oil and gas companies. Mr. Wylie holds a Bachelor of Commerce degree in Petroleum Land Management from the University of Calgary. Both his enthusiasm and experience with acquisitions and divestitures will be an asset to Blackbird Energy’s growth strategy.
In connection with his appointment, Mr. Wylie has been granted an aggregate of 500,000 stock options exercisable at a price of $0.385 until September 15, 2019.
Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway.
On behalf of the board of BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”) relating to management’s expectations as to the effect of the completion of the Bigstone project sale and the appointment of Mr. Wylie, on the Company. 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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
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Blackbird Energy Inc.
President and CEO
Blackbird Energy Inc.
Vice President, Business Development
Brisco Capital Partners Corp.