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DualEx Energy International Inc Closing Of $1.9 Million Short Form Prospectus Offering

Friday, 22 Mar 2013 09:40am EDT 

DualEx Energy International Inc announced that it has closed its previously announced short form prospectus offering, raising gross proceeds of $1,901,125 for the Corporation. The Offering was led by Beacon Securities Limited, for a syndicate of agents. A total of 12,674,167 units were issued by the Corporation at a price of $0.15 per Unit for gross proceeds of $1,901,125. Each Unit consists of one common share of the Corporation and one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one Common Share on or before the earlier of the date that is: (a)March 22, 2015; and (b) 30 days after the giving of notice of early termination by DualEx, which may be given by DualEx, in its sole discretion, if the volume-weighted average price of the Common Shares on the TSX Venture Exchange exceeds the warrant exercise price by at least 200% for a minimum of 10 consecutive trading days (whether or not trading of Common Shares occurs on all such days, provided that the Common Shares trade on at least five of such trading days). The exercise price of the Warrants will be $0.18 per Common Share. The Corporation will use net proceeds of the Offering to: record a 47 km2 of 3D seismic data on the KT Block of the Corporation's Bouhajla exploration block located onshore in the Pelagian Basin of east central Tunisia and for general working capital purposes. 

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