Sundance Energy Appoints New Directors
CALGARY, ALBERTA -- (Marketwire) -- 06/28/12 -- Sundance Energy
Corporation ("Sundance" or the "Corporation") (TSX VENTURE:SNY)
(OTCQX:SNYXF) would like to announce that due to their involvement as
directors and officers of Sundance's partner on its Central Alberta
Alexander Property, Mr. Doug Brett and Mr. Michael Koenig have
resigned from its board of directors effective June 27, 2012.
Sundance's management would like to thank Mr. Brett and Mr. Koenig
for their efforts while on the board of directors and looks forward
to continuing to work with them through their affiliation with
Sundance's partner. The vacancies created by Mr. Brett's and Mr.
Koenig's departures will be filled by Mr. Doug Carter and Mr. Nahn
Le. Mr. Le will also replace Mr. Koenig on Sundance's Audit
Mr. Carter, B.A. (Economics), is an Independent Businessman and a
Petroleum Landman. Mr. Carter previously worked for Pan Canadian
Petroleum Limited, Dome Petroleum Ltd., Bralorne Resources Ltd.,
Signalta Resources Ltd. and Amethyst Petroleums Ltd.
Mr. Le is a chartered accountant specializing in taxation. Mr. Le
obtained his B. Comm in accounting from Concordia University in 1981.
Mr. Le articled with Coopers & Lybrand in Calgary where he received
his CA designation in 1984. Prior to moving to the aviation sector in
1990, Mr. Le was employed by Unocal Canada Limited from 1985 to 1990
where he became a specialist in oil and gas joint venture audit and
taxation. In 1999, Mr. Le was appointed Director, Taxation at
Canadian Airlines International Ltd. ("CAIL"), responsible for all
tax matters. Since the acquisition of CAIL by Air Canada in 2000, Mr.
Le continues to serve Air Canada in his capacity as Director, Taxes
and has been involved with a number of complex corporate transactions
at Air Canada including the formation of ACE Aviation Holdings Ltd.
("ACE") and the subsequent IPO spin-offs of ACE's subsidiary units;
Aeroplan, Jazz and Air Canada. Mr. Le is based in Calgary and is
currently the President, CEO and a board member of a number of
wholly-owned subsidiaries of Air Canada. Mr. Le has also held
numerous officer and director roles with various TSX Venture listed
Flow-Through Private Placement
Sundance would also like to announce that it intends to complete a
non-brokered private placement of flow-through units at $0.12 per
flow-through unit, for minimum gross proceeds of $500,000 and maximum
gross proceeds of $1 million (the "Offering"). Each flow-through unit
will consist of one common share to be issued on a "flow-through"
basis and one common share purchase warrant. Each warrant will
entitle the holder thereof to acquire one non flow-through common
share at a price of $0.15 per share for a period of one year from the
date of closing.
A finder's fee of 6% of the gross proceeds of the Offering may be
paid, on portions of the funds raised pursuant to the Offering, to
arm's-length parties who introduce subscribers for the units.
The closing of the Offering is expected to occur on or before July
31, 2012 and is subject to regulatory approval, including approval of
the TSX Venture Exchange. All securities issued in connection with
the Offering will be subject to a hold period of four months from the
date of closing. The net proceeds from the Offering will be used to
finance Sundance's continuing capital programs.
Filing of Interim Financials
Sundance further announces that it has filed its interim financial
statements for the six month period ended April 30, 2012 and the
accompanying management's discussion and analysis.
These filings are available on SEDAR at www.sedar.com.
Sundance Energy Corporation is a junior publicly traded oil and gas
company whose primary focus is exploring First Nation Lands in
Western Canada. Sundance trades in Canada on the TSX Venture Exchange
under the trading symbol "SNY" and on the OTCQX in the U.S.A. under
the trading symbol "SNYXF".
No stock exchange, securities commission or other regulatory
authority has approved nor disapproved the information contained
Forward Looking Statements
This news release contains forward-looking statements relating to the
future operations of the Corporation and other statements that are
not historical facts. Forward-looking statements are often identified
by terms such as "will", "may", "should", "anticipate", "expects" and
similar expressions. All statements other than statements of
historical fact, included in this release, including, without
limitation, statements regarding future plans and objectives of the
Corporation, are forward looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Corporation's expectations are exploration risks
detailed from time to time in the filings made by the Corporation
with securities regulations.
The reader is cautioned that assumptions used in the preparation of
any forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of Sundance. As a result, we cannot guarantee that any
forward-looking statement will materialize and the reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect and
actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The forward-looking
statements contained in this news release are made as of the date of
this news release, and Sundance does not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or
otherwise, except as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Sundance Energy Corporation
(403) 228-7715 (FAX)
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