Welcome!

News Feed Item

Additional info re: APIC transaction

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 11/30/12 --




Not for distribution to United States wire services or dissemination in
the United States.

        JOINT PRESS RELEASE - FOR IMMEDIATE RELEASE

       ADDITIONAL INFORMATION ON ARRANGEMENT TRANSACTION
                 BETWEEN LONGREACH AND APIC


Toronto, Ontario and Jersey, Channel Islands - 30 November 2012 -
Longreach Oil & Gas Limited (TSXV: LOI) ("Longreach") and APIC
Petroleum Corporation (TSXV: API) ("APIC") wish to provide shareholders
with additional information respecting the proposed business
combination of APIC and Longreach.

In connection with the proposed scheme of arrangement between Longreach
and APIC (the "Arrangement"), as previously disclosed by press releases
on November 1 and November 8, 2012, APIC completed a non-brokered
offering ("Offering") of subscription receipts ("Subscription
Receipts"). An aggregate of 230,786,918 Subscription Receipts were
sold under the Offering at a price of C$0.13 per Subscription Receipt
for total gross proceeds of C$30,002,299.73.

On completion of the Arrangement, Longreach is expected to have three
shareholders holding more than 10% of Longreach's shares on a
non-diluted basis, being Dundee Corporation (15.21%), funds managed by
West Face Capital Inc. (10.60%) and funds managed by Blakeney LLP
(10.31%).

At the special meeting of APIC shareholders scheduled to be held on
December 4, 2012, APIC shareholders will be asked to ratify the
Offering and the participation of certain APIC insiders in the
Offering.

CAUTIONARY STATEMENTS RE FORWARD LOOKING INFORMATION

Statements in this press release contain forward-looking information
within the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as"contemplates",
"intends", "plan", "expect", "project", "believe","anticipate", "estimate"
and other similar words, or statements that
certain events or conditions "may" or "will" occur. In particular,
forward-looking information in this press release includes, without
limitation, statements with respect to the receipt of APIC shareholder
approval of the Offering. Readers are cautioned that assumptions used
in the preparation of forward-looking information may prove to be
incorrect. Although Longreach and APIC each believes that the
expectations reflected in the forward-looking information is
reasonable, there can be no assurance that such expectations will prove
to be correct. Neither Longreach nor APIC can guarantee future results,
level of activity, or performance of achievements. Consequently, there
is no representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.

Forward-looking information is based on the opinions and estimates of
management at the date the statements are made, and are subject to a
variety of risks and uncertainties and other factors (many of which are
beyond the control of Longreach and APIC) that could cause actual
events or results to differ materially from those anticipated in the
forward-looking information. Some of the risks and other factors could
cause results to differ materially from those expressed in the
forward-looking information include, but are not limited to, the risks
that the parties will not proceed with the Arrangement and associated
transactions, that the ultimate terms of the Arrangement and associated
transactions will differ from those that currently are contemplated,
and that the Arrangement and associated transactions will not be
successfully completed for any reason (including the failure to obtain
the required approvals or clearances from regulatory authorities).
Industry related risks could include, but are not limited to:
operations with foreign entities; delays or changes in plans;
competition for, among other things, capital, acquisitions, skilled
personnel and supplies; governmental regulation of the oil and gas
industry; technical problems; the uncertainty of estimates and
projections of costs and expenses; unanticipated operating events or
performance which can reduce productivity; the need to obtain required
approvals from regulatory authorities; stock market volatility;
liabilities inherent in oil and gas operations; access to capital; and
other factors. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.

The statements in this news release are made as of the date of this
release. Neither Longreach nor APIC undertakes any obligation to
comment on analyses, expectations or statements made by third parties
in respect of either of them, or their respective financial or
operating results or (as applicable), their securities.

For additional information, please contact:

For Longreach Oil and Gas Limited   For APIC Petroleum Corporation

Bryan Benitz, Chairman & Chief      Dennis A. Sharp, Chairman and Chief
Executive Officer                   Executive Officer
                                    (416) 367-0150
+44 20 3137 7756                    (416) 367-0165 (FAX)


Pelham Bell Pottinger               or
Mark Antelme / Philip Dennis /
Rollo Crichton-Stuart               John Clark, Chief Financial Officer
                                    (416) 367-0150
+44 207 861 3232                    (416) 367-0165 (FAX)


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.



                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer
Services
0044-207797-4400
Email Contact
http://www.rns.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.