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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (18940)	10/14/2016 8:08:14 AM
From: Goose94	Read Replies (1) \| Respond to of 202405

BNK Petroleum (BKX-T) Oct 14, '16 is pleased to announce that the Company has filed a preliminary short form prospectus in connection with a proposed offering of up to 55,000,000 common shares of the Company at a price of C$0.20 per Share to raise aggregate gross proceeds of approximately C$11,000,000. The Offering will be co-led by GMP FirstEnergy and Haywood Securities Inc. (collectively, the "Agents"). The Shares are being offered by the Agents on a "commercially reasonable efforts" basis. Wolf Regener, President & CEO commented "This offering will allow us to facilitate the further development of our Tishomingo Field in a low cost environment. We believe that our Tishomingo Field asset has great potential for additional cash flow and reserve additions creating substantial value for our shareholders. After the prolonged industry downturn and significant cost cutting, we are looking forward to beginning a drilling program as we continue to focus on cost reductions." Certain insiders of the Company have indicated that they will participate in the Offering. Such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements under MI 61-101. Closing of the Offering is expected to occur on or about October 28, 2016 and is subject to the receipt of applicable regulatory approvals, including approval of the Toronto Stock Exchange. The Shares will be offered by way of a short form prospectus which has been filed in British Columbia, Alberta, Manitoba and Ontario pursuant to National Instrument 44-101 Short Form Prospectus Distributions, in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and in such other jurisdictions as the Company and the Agents may agree. *About BNK Petroleum Inc.* BNK Petroleum Inc. is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays. Through various affiliates and subsidiaries, the Company owns and operates shale oil and gas properties and concessions in the United States. Additionally the Company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX. For further information: Wolf E. Regener, +1 (805) 484-3613, Email: investorrelations@bnkpetroleum.com , Website: www.bnkpetroleum.com