Manitok Energy Inc. Announces Intention to Commence A Normal Course Issuer Bid

Manitok Energy Inc. Announces Intention to Commence A Normal Course Issuer Bid 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Manitok Energy Inc. 
TSX VENTURE SYMBOL:  MEI 
MARCH 12, 2014 
Manitok Energy Inc. Announces Intention to Commence A Normal Course Issuer Bid 
CALGARY, ALBERTA--(Marketwired - March 12, 2014) -  
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA. 
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX
VENTURE:MEI) announces that it intends to conduct a normal course issuer bid
(the "Bid") to purchase for cancellation up to 6,777,286 common
shares in the capital of Manitok ("Common Shares"), representing 10%
of its Public Float (as such term is defined under the TSX Venture Exchange
Corporate Finance Manual). Manitok plans to fund the Bid with its funds from
operations and available financing under its credit facility. The Bid will be
conducted through the facilities of the TSX Venture Exchange. Management
believes that with potential acquisition values ranging from 5 to 7 times next
year's projected funds from operations, buying Common Shares at less than
3 to 4 times next year's projected funds from operations under the Bid is
advantageous to Manitok shareholders in the longer run. It is expected that the
Bid will commence on March 17, 2014 and will continue until March 16, 2015 or
such earlier date as Manitok has purchased the maximum of 6,777,286 Common
Shares. Manitok has retained Integral Wealth Securities Limited as its broker
to conduct the Bid on Manitok's behalf.  
During the Bid the Corporation will be observing the purchasing restrictions
during "black out" periods pursuant to Manitok's Share Trading
Policy. Manitok intends to implement an automatic share purchase plan with its
broker to allow it to purchase Common Shares under the Bid while in such
"black out" periods.  
Under Manitok's automatic share purchase plan, Manitok's broker may
purchase the Common Shares under the Bid at any time including, without
limitation when Manitok would ordinarily not be permitted to due to regulatory
restrictions or self-imposed blackout periods, pursuant to Manitok's Share
Trading Policy. Purchases will be made by Manitok's broker based on
parameters prescribed by the policies of the TSX Venture Exchange and
applicable Canadian securities laws and the terms of the parties' written
agreement.  
About Manitok 
Manitok is a public oil and gas exploration and development company focusing on
conventional oil and gas reservoirs in the Canadian foothills and Southeast
Alberta. The Corporation will utilize its experience and expertise to develop
the untapped conventional oil and liquids-rich natural gas pools in both the
Foothills and Southeast Alberta areas of the Western Canadian Sedimentary
Basin. 
Forward-Looking Information 
This press release contains forward-looking statements. More particularly, this
press release contains statements about potential purchases of Common Shares
for cancellation under the Bid, the related methods of funding as well as the
timing and extent of such purchases. These statements may constitute
"forward-looking statements" or "forward-looking
information" within the meaning of applicable securities legislation as
they involve the implied assessment that the purchase of Common Shares can be
consummated in the future, at a price that will create value for the
Manitok's shareholders, based on certain estimates and assumptions.  
Although Manitok 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 Manitok 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 ability to generate sufficient funds from
operations and/or access external debt to fund the Bid, risks associated with
the oil and gas industry in general (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty of
reserves estimates; the uncertainty of estimates and projections relating to
production, costs and expenses; and health, safety and environmental risks),
uncertainty as to the availability of labour and services, commodity price and
exchange rate fluctuations, unexpected adverse weather conditions and changes
to existing laws and regulations. Certain of these risks are set out in more
detail in Manitok's current Annual Information Form, which is available on
Manitok's SEDAR profile at www.sedar.com.  
Forward-looking information is based on estimates and opinions of management of
Manitok at the time the information is presented. Manitok may, as considered
necessary in the circumstances, update or revise such forward-looking
information, whether as a result of new information, future events or
otherwise, but Manitok undertakes no obligation to update or revise any
forward-looking information, except as required by applicable securities laws. 
Non-GAAP Financial Measures 
This press release contains references to measures used in the oil and natural
gas industry such as "funds from operations". These measures do not
have any standardized meanings prescribed by generally accepted accounting
principles ("GAAP") and therefore, reported amounts may not be
comparable measures reported by other companies where similar terminology is
used. These measures have been described and presented in this press release in
order to provide shareholders and potential investors with additional
information regarding Manitok's liquidity and its ability to generate
funds to finance its operations.  
Funds from operations should not be considered an alternative to, or more
meaningful than, cash provided by operating, investing and financing activities
or net earnings as determined in accordance with GAAP, as an indicator of
Manitok's performance or liquidity. Funds from operations is used by
Manitok to evaluate operating results and Manitok's ability to generate
cash flow to fund capital expenditures and repay indebtedness. Funds from
operations denotes cash flow from operating activities as it appears on the
Corporation's Statement of Cash Flows before decommissioning expenditures
and changes in non-cash operating working capital. Funds from operations is
also derived from net income (loss) plus non-cash items including deferred
income tax expense, depletion and depreciation expense, exploration and
evaluation expense, impairment expense, stock-based compensation expense,
accretion expense, acquisition-related expenses, unrealized gains or losses on
financial instruments and gains or losses on asset divestitures.  
Neither the 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. 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Manitok Energy Inc.
Massimo M. Geremia
President & Chief Executive Officer
403-984-1751
mass@manitok.com 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  BBK 
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-0- Mar/12/2014 11:00 GMT
 
 
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