3MV Energy Announces Results from the Annual Meeting of Shareholders and Issuance of Shares

CALGARY, July 20, 2015 /CNW/ – 3MV Energy Corp. (“3MV” or the “Company“) (TSXV: TMV) is pleased to announce that all matters set out in our management information circular dated June 8, 2015 for the 2015 Annual Meeting of Shareholders held on July 16, 2015 (the “Meeting“) were approved by shareholders. The detailed results of the vote are set out below:

Issuance of Shares

3MV is also is pleased to announce that it has issued 794,949 shares of the Company to Audax Investments Ltd (“Audax“) in relation to interest payable quarterly on the $2MM secured draw down facility term loan. The debt facility bears interest at eight percent (8%) per annum, calculated and payable quarterly at the greater of the volume weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date. Audax is a corporation controlled by Dallas Duce, Interim CEO, a director and control person of 3MV.

In addition, the Company is pleased to announce that it has issued 897,534 shares of the Company in relation to interest payable quarterly on the $6MM drawdown on its secured loan facility with Invico Diversified Income Limited Partnership.  The loan facility allows up to 3% of interest payable by way of quarterly share issuance at the greater of the volume weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date.

Following these issuances, there will be 57,942,394 common shares of the Company issued and outstanding. The issuance of the common shares will not result in a change of control.

About 3MV 

3MV is an oil and gas exploration and development company with assets throughout west central Saskatchewan’s Viking oil play.

[expand title=”Advisories & Contact”]The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

Forward-Looking Statements

Certain statements in this news release constitute forward-looking statements. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by 3MV. Although 3MV believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because 3MV can give no assurance that they will prove to be correct.

Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general, commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect 3MV’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).

The forward-looking statements contained in this document are made as of the date hereof and 3MV undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither 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.

SOURCE 3MV Energy Inc.

For further information: Dallas Duce, Interim CEO, (403) 234-8998 OR Billy Abbey, CFO, VP Finance, (403) 234-8998[/expand]