TORONTO,
Aug. 15, 2013 /CNW/ - ADIRA ENERGY
LTD. (TSXV: ADL) (OTCBB: ADEND) (FRANKFURT: 0AM). Adira Energy Ltd.
("Adira" or the "Company") announces that further to
the news release dated August 9,
2013, related to the consolidation of the common shares of
the Company, the consolidated shares have commenced trading under a
new symbol on the OTC Bulletin Board as "ADEND". The shares
continue to trade on the TSX Venture Exchange under the symbol
"ADL" and on the Frankfurt Stock Exchange under the symbol
"0AM".
Adira further announces that the previously
announced non-brokered private placement (the "Private
Placement") of US$5,000,000 with
Pelagic Investments Limited ("PI") is expected to close on
or around August 30, 2013.
The securities offered in connection with the
Private Placement have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not
be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S.
registration requirements. This news release does not constitute an
offer for sale of securities, nor a solicitation for offers to buy
any securities. Any public offering of securities in the United States must be made by means of a
prospectus containing detailed information about the company and
management, as well as financial statements.
About Adira Energy Ltd.
Adira Energy Ltd. is an oil and gas company
which is focused in the Eastern Mediterranean. The Company has
three petroleum exploration licenses offshore Israel; the Gabriella, Yitzhak and Samuel
Licenses. These licenses are located respectively 10 km offshore
between Netanya and Ashdod, 17 km offshore between Hadera and
Netanya and adjacent to the coast between Ashkelon and Bat-Yam. The Company also has an
option on the Yam Hadera License, offshore Israel, which is located 30 kilometers
offshore Israel, between Hadera
and Haifa and North West of
Adira's Yitzhak license.
Forward-Looking Statement Disclaimer
This press release includes certain statements
that may be deemed "forward-looking statements". All statements in
this press release, other than statements of historical facts, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements.
Forward-looking statements are based on the Company's internal
projections, estimated or beliefs, concerning, among other things
an outlook on the estimated amounts and timing of exploration work
and capital expenditures or other expectation, beliefs, plans,
objectives, assumption, intentions or statements about future
events or performance, which are considered by management to be
reasonable at the time made. Actual events or results may differ
materially. Although the Company believes that the expectations
reflected in the statements are reasonable, it cannot guarantee
future results since such results are inherently subject to
significant business, economic, corporate, political and social
uncertainties and contingencies. Many factors cause the Company's
actual results to differ materially from those expressed or implied
in any forward looking statements made by, or on behalf of, the
Company and the foregoing stated factors are not exhaustive. The
statements contained herein are made as of the date hereof and the
Company disclaims any intent or obligation to update publicly any
forward looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable law. Company shareholders and potential investors should
carefully consider the information contained in the Company's
filing with Canadian securities administrators at www.sedar.com
before making investment decisions with regard to the Company.
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.
SOURCE Adira Energy Ltd.