NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Arsenal Energy Inc. ("Arsenal" or the "Corporation") (TSX:AEI) announces
upsizing of the previously announced bought deal financing with Acumen Capital
Finance Partners Limited, as lead underwriter on behalf of a syndicate of
underwriters including National Bank Financial Inc., Industrial Alliances
Securities Inc. and PI Financial Corp. (collectively, the "Underwriters"). 


Under the terms of the agreement Arsenal will now issue 695,200 common shares to
be issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the
"Tax Act") in respect of Canadian exploration expenses (the "CEE FT Shares") at
a price of $9.35 per CEE FT Share (the "Offering Price") for gross proceeds of
$6,500,120. The Underwriters have been granted an option by the Corporation (the
"Over-Allotment Option") to acquire up to an additional 104,200 CEE FT Shares at
the Offering Price. The Over-Allotment Option is exercisable in whole or in part
for a period of 30 days from closing of the offering. 


The financing is expected to close on or about July 3, 2014 and is subject to
approval of the Toronto Stock Exchange, receipt of all necessary regulatory
approvals and other customary conditions 


The gross proceeds from the sale of the CEE FT Shares will be used to incur
Canadian exploration expenses ("CEE") for the purposes of the Tax Act and such
CEE will be renounced to subscribers for the 2014 tax year.


Forward-Looking Information 

This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward-looking information in this news release
includes statements with respect to the Corporation's intention to complete the
offering, the anticipated closing date of the offering, the use of proceeds from
the offering and the renunciation of qualifying expenditures. Material
assumptions and factors that could cause actual results to differ materially
from such forward-looking information includes the performance of the
underwriters' and the Corporation's obligations in relation to the offering; the
failure to obtain approval from the TSX; and the failure by the Corporation to
renounce the qualifying expenditures as planned. Although the Corporation
believes that the material assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur.
Arsenal disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.


THE SECURITIES OFFERED HAVE NOT BEEN 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 AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS
RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO
BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH
OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Arsenal Energy Inc.
Tony van Winkoop
President & CEO
(403) 262-4854
Suite 1900, 639 5th Avenue S.W., Calgary, Alberta T2P 0M9
www.arsenalenergy.com
Centamin (TSX:CEE)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Centamin Charts.
Centamin (TSX:CEE)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Centamin Charts.