Vancouver, Canada: - Transeuro Energy Corp. (the "Company") is pleased to announce that it has completed the rights issue raising C$ 13,499,999.58. A total amount of C$ 3,980,287.80 was purchased by non-guarantors. The remaining C$ 9,519,711.78 will be purchased by the guarantors of the rights offering (including the C$ 1,999,999.98 purchased by Questerre Energy Corporation according to loan agreement dated 30 May 2011).
The Company will issue 224,999,993 new common shares to participants in the rights issue, bringing the number of common shares outstanding to 316,702,258. For existing shareholders who did not participate in the rights offering, this entails a dilution of 71.04%.
For subscribers in the Canadian part of the offering, the new common shares are expected to be issued on 8th December 2011.
For subscribers in the Norwegian part of the offering, the subscription price in NOK has now been fixed at NOK 0.341454 per new share, as further described in Section 5.4 of the Norwegian Prospectus.
Fondsfinans ASA will today distribute allocation letters to the subscribers in the Norwegian part of the rights offering with further information about the amount in NOK payable for the subscribed shares. The payment date is set to 9th December 2011.
The remainder of the timetable for the rights offering is as follows:
Issuance and delivery of the offered shares to shareholders other than
VPS-shareholders: 8th December 2011
Payment date for VPS-shareholders (estimate): 9th December 2011
Issuance of the offered shares to VPS-shareholders (estimate): 14th December 2011
Delivery of the offered shares to VPS-shareholders and listing of such shares at Oslo Axess (estimate): 20th December 2011
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gasrights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas producing property located in British Columbia, Canada and has interest in gas exploration and appraisal developments in Crimea, Ukraine. In addition, the Company holds a back-in option to Eaglewood Energy Inc.'s exploration licenses in Papua New Guinea.
On behalf of the Board of Directors
Aage Thoen, Chairman
For further information contact:
Chris McGillivray, IR, +1 604 681 3939
Karen Jenssen, IR, +47 91729787
http://www.transeuroenergy.com
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Copyright (c) 2011 TRANSEURO ENERGY CORP. (TSU) All rights reserved.
For more information visit our website at http://www.transeuroenergy.com/ or send mailto:info@transeuroenergy.com Message sent on Tue Dec 6, 2011 at 11:54:19 AM Pacific Time
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Transeuro Energy Corp.
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CODE : TSU.V |
ISIN : 8936511093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Transeuro Energy is a and oil exploration company based in Canada. Transeuro Energy holds various exploration projects in Armenia, in Canada, in Papua New Guinea and in Ukraine. Its main exploration properties are BEAVER-RIVER in Canada, CRIMEA in Ukraine and BLOCK 2 in Armenia. Transeuro Energy is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.9 millions as of today (US$ 6.2 millions, € 4.9 millions). Its stock quote reached its highest recent level on August 05, 2005 at CA$ 3.20, and its lowest recent point on May 09, 2014 at CA$ 0.02. Transeuro Energy has 345 230 016 shares outstanding. |