Butte Energy announces financing
June 29 2012 - 12:00PM
PR Newswire (Canada)
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. WIRE SERVICES/ TSXV: BEN CALGARY, June 29, 2012 /CNW/ -
Butte Energy Inc. ("Butte" or the "Company") announces that further
to its press release dated May 16, 2012, it remains the intention
of the Company to complete the non-brokered private placement of up
to 28 million common shares at an issue price of $0.25 per share
subject to regulatory approval. The net proceeds of this offering
will be used in the Company's on-going exploration and development
activities in Central Alberta including the Company's farm-out
obligations and for working capital. Cautionary statements This
news release contains "forward-looking statements" within the
meaning of applicable securities laws relating to the proposed
private placement, and use of proceeds from the proposed private
placement, including statements regarding the receipt of regulatory
approval. Readers are cautioned not to place undue reliance
on forward-looking statements. Actual results and developments may
differ materially from those contemplated by these statements
depending on, among other things, the risks that regulatory
approval will not be obtained in a timely manner or at all. The
statements in this news release are made as of the date of this
release. Except as required by law, the Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise. Neither the TSX Venture Exchange, Inc. nor its
Regulation Service Provider (as that term is defined under the
policies of the TSX Venture Exchange) has in any way passed upon
the merits of the Proposed Acquisition and associated transactions
and has neither approved nor disapproved of the contents of this
press release. Not for distribution to U.S. Newswire Services or
for dissemination in the United States. Any failure to comply with
this restriction may constitute a violation of U.S. Securities
laws. Butte Energy Inc. CONTACT: Butte Energy Inc.Victor Redekop,
ChairmanTel: (403) 541-5310
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