American Eagle Energy Announces Offering of Common Stock
10 Marzo 2014 - 9:02PM
Marketwired
American Eagle Energy Announces Offering of Common Stock
DENVER, CO--(Marketwired -
March 10, 2014) - American Eagle Energy (NYSEMKT: AMZG) ("American Eagle" or the
"Company") announced today it intends to commence an underwritten
public offering of 10,000,000 shares of the Company's common stock
after giving effect to a 1 for 4 reverse stock split that will
occur concurrently with pricing of the offering. The Company plans
to use the net proceeds from this offering (i) to fund the exercise
of its purchase option to acquire a portion of its JV partner's
interests in its existing acreage and wells in the Spyglass Area,
(ii) to fund a portion of its capital budget for the 12-month
period ending December 31, 2014, and (iii) for general corporate
purposes, including working capital and additional leasehold
acquisitions. The Company has granted the underwriters a
30-day option to purchase up to an additional 1,500,000 shares of
common stock.
Johnson Rice & Company L.L.C. is acting as sole book-running
manager, Northland Capital Markets and Euro Pacific Capital are
acting as senior co-managers, and Canaccord Genuity and Wunderlich
Securities are acting as co-managers of the offering. The
underwritten public offering will be made only by means of a
prospectus supplement and accompanying base prospectus, copies of
which may be obtained from Johnson Rice & Company L.L.C.,
Corporate Finance Department, 639 Loyola Avenue, Suite 2775, New
Orleans, LA 70113, phone (504) 584-1231.
When available, an electronic copy of the preliminary prospectus
supplement and accompanying base prospectus may also be obtained at
no charge at the Securities and Exchange Commission's website at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful. The offering is being made
pursuant to an effective registration statement on Form S-3
previously filed by the Company with the Securities and Exchange
Commission.
ABOUT AMERICAN EAGLE ENERGY CORPORATION
American Eagle Energy Corporation is an independent exploration
and production operator that is focused on acquiring acreage and
developing wells in the Williston Basin of North Dakota, targeting
the Bakken and Three Forks shale oil formations. The Company is
based in Denver, CO. More information about American Eagle can be
found at www.americaneagleenergy.com or by contacting investor
relations at 303-798-5235 or ir@amzgcorp.com. Company filings with
the Securities and Exchange Commission can be obtained free of
charge at the SEC's website at www.sec.gov.
SAFE HARBOR
This press release may contain forward-looking statements
regarding future events and the Company's future results that are
subject to the safe harbors created under the Securities Act of
1933 (the "Securities Act") and the Securities Exchange Act of 1934
(the "Exchange Act"). All statements other than statements of
historical facts included in this press release regarding the
Company's financial position, business strategy, plans and
objectives of management for future operations, industry
conditions, and indebtedness covenant compliance are
forward-looking statements. When used in this report,
forward-looking statements are generally accompanied by terms or
phrases such as "estimate," "project," "predict," "believe,"
"expect," "anticipate," "possible," "target," "plan," "intend,"
"seek," "goal," "will," "should," "may" or other words and similar
expressions that convey the uncertainty of future events or
outcomes. Items contemplating or making assumptions about,
actual or potential future sales, market size, collaborations, and
trends or operating results also constitute such forward-looking
statements.
Forward-looking statements involve inherent risks and
uncertainties and important factors (many of which are beyond the
Company's control) that could cause actual results to differ
materially from those set forth in the forward-looking statements,
including the amount we may invest, the location, and the scale of
the drilling projects in which we intend to participate; our
beliefs with respect to the potential value of drilling projects;
our beliefs with regard to the impact of environmental and other
regulations on our business; our beliefs with respect to the
strengths of our business model; our assumptions, beliefs, and
expectations with respect to future market conditions; our plans
for future capital expenditures; and our capital needs, the
adequacy of our capital resources, and potential sources of
capital.
The Company has based these forward-looking statements on its
current expectations and assumptions about future
events. While management considers these expectations and
assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory, and other
risks, contingencies, and uncertainties, most of which are
difficult to predict and many of which are beyond the Company's
control. The Company does not assume any obligations to update any
of these forward-looking statements.
INVESTOR RELATIONS CONTACT: Marty Beskow, CFA Vice President of
Capital Markets and Strategy American Eagle Energy Corporation
720-330-8378 ir@amzgcorp.com www.americaneagleenergy.com
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