Crown Point Energy Declares Regular Third Quarter Dividend and Special Dividend
August 16 2019 - 3:18PM
Crown Point Energy Inc. (TSX.V: CWV) (“
Crown
Point” or the “
Company”) is pleased to
announce that its board of directors has declared a regular third
quarter cash dividend on its common shares of US$0.01 per common
share and a special cash dividend on its common shares of US$0.015
per common share, for a total cash dividend of US$0.025 per common
share. The regular quarterly dividend and the special
dividend will both be payable on September 30, 2019 to shareholders
of record at the close of business on September 13, 2019. The
dividends are each designated as an “eligible dividend” for
Canadian income tax purposes.
About Crown Point
Crown Point Energy Inc. is an international oil
and gas exploration and development company headquartered in
Calgary, Canada, incorporated in Canada, trading on the TSX Venture
Exchange and operating in South America. Crown Point’s exploration
and development activities are focused in two of the largest
producing basins in Argentina, the Austral basin in the province of
Tierra del Fuego and the Neuquén basin in the province of Mendoza.
Crown Point has a strategy that focuses on establishing a portfolio
of producing properties, plus production enhancement and
exploration opportunities to provide a basis for future growth.
Forward-looking Information: This document
contains forward-looking information. This information
relates to future events and the Company’s future
performance. All information and statements contained herein
that are not clearly historical in nature constitute
forward-looking information. Such information represents the
Company’s internal projections, estimates, expectations, beliefs,
plans, objectives, assumptions, intentions or statements about
future events or performance. This information involves known
or unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information. Crown Point
believes that the expectations reflected in this forward-looking
information are reasonable; however, undue reliance should not be
placed on this forward-looking information, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. This press release contains
forward-looking information concerning, among other things, the
following: the future declaration and payment of regular quarterly
cash dividends pursuant to the Company’s quarterly cash dividend
program, the future declaration and payment of special cash
dividends, and the timing and amount of such dividends; and, under
"About Crown Point", all elements of the Company’s business
strategy. The reader is cautioned that such information, although
considered reasonable by the Company, may prove to be incorrect.
Actual results achieved during the forecast period will vary from
the information provided in this document as a result of numerous
known and unknown risks and uncertainties and other factors. A
number of risks and other factors could cause actual results to
differ materially from those expressed in the forward-looking
information contained in this document including, but not limited
to: the risk that the Company’s quarterly cash dividend program is
changed, suspended or cancelled or that dividend payments
thereunder are reduced, suspended or cancelled; and the risk that
the Company will not declare and pay special dividends in the
future, or that any such special dividends are less than the
current special dividend. With respect to forward-looking
information contained in this document, the Company has made
assumptions regarding various matters, and as a result the amount
of future regular and special cash dividends declared and paid by
the Company, if any, will be subject to the discretion of the board
of directors and may vary depending on a variety of factors and
conditions existing from time to time, including fluctuations in
commodity prices, production levels, capital expenditure
requirements, debt service requirements, operating costs, royalty
burdens, foreign exchange rates, interest rates, compliance with
any restrictions on the declaration and payment of dividends
contained in any agreements to which the Company or any of its
subsidiaries is a party from time to time (including, without
limitation, the agreements governing the credit facilities and
other debt instruments of the Company and its subsidiaries), and
the satisfaction of liquidity and solvency tests imposed by the
Business Corporations Act (Alberta) for the declaration and payment
of dividends. Management of the Company has included the above
summary of assumptions and risks related to forward-looking
information included in this document in order to provide investors
with a more complete perspective on the Company’s future
operations. Readers are cautioned that this information may
not be appropriate for other purposes. Readers are cautioned that
the foregoing lists of factors are not exhaustive. The
forward-looking information contained in this document are
expressly qualified by this cautionary statement. The
forward-looking information contained herein is made as of the date
of this document and the Company disclaims any intent or obligation
to update publicly any such forward-looking information, whether as
a result of new information, future events or results or otherwise,
other than as required by applicable Canadian securities laws.
Neither 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 news release.
For inquiries please contact:
Brian Moss
President & CEO
Ph: (403) 232-1150
Crown Point Energy Inc.
bmoss@crownpointenergy.com
Marisa Tormakh
Vice-President, Finance & CFO
Ph: (403) 232-1150
Crown Point Energy Inc.
mtormakh@crownpointenergy.com
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