Key Developments: Pine Cliff Energy Ltd (PNE.V)

PNE.V on TSX Venture Exchange

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Latest Key Developments (Source: Significant Developments)

Pine Cliff Energy Ltd issues FY 2014 production guidance
Wednesday, 18 Dec 2013 05:56pm EST 

Pine Cliff Energy Ltd:Says expects production volumes in FY 2014 of 6,100 to 6,500 barrels of oil equivalent (boe) per day, representing a 37% increase over the 2013 production guidance of 4,350 to 4,850 boe per day.  Full Article

Nighthawk Gold Corp enters into option agreement to acquire Kim and Cass properties in Northwest Territories with Pine Cliff Energy Ltd's Subsidiary
Wednesday, 18 Dec 2013 04:47pm EST 

Nighthawk Gold Corp:Says has entered into a binding option agreement, with Geomark Exploration Ltd., a wholly owned subsidiary of Pine Cliff Energy Ltd., to acquire four contiguous mining leases adjacent to Nighthawk's existing property in the Northwest Territories.Says under the agreement with Geomark, Nighthawk has optioned four contiguous mining leases which include the Kim and Cass gold deposits and other gold showings.Says on signing the agreement, Nighthawk granted Geomark a 2.5pct net smelter royalty on the four leases (of which 1.5% can be repurchased for $1,500,000) and paid $250,000, one-half of which is to be satisfied through the issuance of 1,768,345 common shares of Nighthawk.Says subsequent option payments totalling $1,300,000 are staged in tranches over the next three years.  Full Article

Pine Cliff Energy Ltd Reaffirms FY 2013 Production Guidance
Tuesday, 12 Nov 2013 07:30am EST 

Pine Cliff Energy Ltd reaffirmed fiscal 2013 average daily production guidance at 4,350 to 4,850 boe/d.  Full Article

Pine Cliff Energy Ltd Completes $20,020,000 Common Share Offering
Thursday, 17 Oct 2013 09:37am EDT 

Pine Cliff Energy Ltd announced that it has closed its previously announced short form prospectus offering of 18,200,000 common shares (the Common Shares) at a price of $1.10 per common share for gross proceeds of $20,020,000 (the Offering). The Offering was made pursuant to an underwriting agreement with a syndicate of underwriters led by Paradigm Capital Inc. and including Clarus Securities Inc., AltaCorp Capital Inc., FirstEnergy Capital Corp., GMP Securities L.P., Haywood Securities Inc., Jennings Capital Inc. and Scotia Capital Inc. The net proceeds from the Offering will be used to initially reduce indebtedness under Pine Cliff's credit facility and for general corporate purposes.  Full Article

Pine Cliff Energy Ltd Announces $20,020,000 Common Share Offering
Wednesday, 2 Oct 2013 05:15pm EDT 

Pine Cliff Energy Ltd announced that it has filed and obtained a receipt for a preliminary short form prospectus in connection with a marketed offering of common shares in the capital of Pine Cliff for aggregate gross proceeds of approximately $20,020,000 at a price of $1.10 per common share. The net proceeds from the Offering will be used to initially reduce indebtedness under Pine Cliff's credit facility and for general corporate purposes. Pine Cliff is a growth oriented oil and gas company that has been actively acquiring material asset positions in the Western Canadian Sedimentary Basin (WCSB) to enlarge its current core areas and create new core areas of production with significant reserves and drilling inventories. It is the intent of Pine Cliff to continue this strategy. The repayment of the outstanding indebtedness under the credit facility with the net proceeds from the Offering will enable Pine Cliff to continue to pursue opportunities that it feels fit within this strategy. Pine Cliff believes that having capital available to pursue its strategy will permit it to be in a position to act quickly if any such opportunities arise. The Offering is presently scheduled to close on or about October 17, 2013 .  Full Article

Pine Cliff Energy Ltd Enters Into Agreement to Acquire Additional Interests in Shallow Gas Southern Alberta & Southern Saskatchewan Assets & Assume Operatorship of All Interests in These Areas
Wednesday, 17 Jul 2013 07:16pm EDT 

Pine Cliff Energy Ltd announced that it has entered into an arm's length purchase and sale agreement (the "Purchase Agreement") to purchase (the "Acquisition") additional interests in the Southern Alberta and Southern Saskatchewan properties (the "Assets") that Pine Cliff had originally acquired an interest in through the acquisition of Skope Energy Inc. in February 2013. As part of the Acquisition, the current asset management agreement governing Pine Cliff's current and additional interests in the Assets will be terminated and Pine Cliff will become the operator of the Assets. The total cash consideration for the Acquisition will be $13.25 million, prior to any adjustments. The Acquisition includes a further 7.38885% working interest in the Monogram unit and related infrastructure in the Province of Alberta (the "Monogram Unit"), a further approximate 20% working interest in the Pendor, Black Butte and Eagle Butte areas in the Province of Alberta (the "Southern AB Assets") and a further approximate 18% working interest in the Vidora, Cadillac and Wymark areas in the Province of Saskatchewan (the "Southern SK Assets"). Upon closing, and assuming the waiver of all rights of first refusals ("ROFRs") and the closing of the previously announced acquisition of a 53.8196% interest in the Monogram Unit, Pine Cliff will own a 90.7639% working interest in the Monogram Unit and an approximate 96% working interest in the Southern AB Assets and the Southern SK Assets.  Full Article

Pine Cliff Energy Ltd Completes $25,080,000 Common Share Offering
Wednesday, 19 Jun 2013 09:05am EDT 

Pine Cliff Energy Ltd announced that it has closed its previously announced short form prospectus offering of 28,500,000 common shares (the Common Shares) at a price of $0.88 per common share for gross proceeds of $25,080,000 (the Offering). The Offering was made pursuant to an underwriting agreement with a syndicate of underwriters led by Paradigm Capital Inc. and including Clarus Securities Inc., AltaCorp Capital Inc., Haywood Securities Inc., GMP Securities L.P., Scotia Capital Inc. and CIBC World Markets Inc. Pine Cliff intends to use the net proceeds of the Offering to finance a portion of the purchase price of the Corporation's previously announced acquisition of an additional 53.8196% working interest in the Monogram unit and related infrastructure in the Province of Alberta for an aggregate purchase price of $34 million (the "Monogram Acquisition"), which is anticipated to close near the end of July, 2013, assuming the waiver of all rights of first refusal ("ROFRs") and prior to any adjustments. In the event that the Monogram Acquisition fails to close, Pine Cliff intends to use the net proceeds for future acquisitions that fit Pine Cliff's acquisition criteria and for general working capital purposes, which may include the payment of expenses in connection with Pine Cliff's day-to-day operations.  Full Article

Pine Cliff Energy Ltd Announces $25,000,000 Marketed Common Share Offering
Tuesday, 4 Jun 2013 06:53pm EDT 

Pine Cliff Energy Ltd announced that it has filed and obtained a receipt for a preliminary short form prospectus (the Preliminary Prospectus) in connection with a marketed offering of common shares in the capital of Pine Cliff (Common Shares) for aggregate gross proceeds of approximately $25,000,000 (the Offering) at a price of $0.88 per Common Share. The Offering is being conducted by a syndicate of underwriters, led by Paradigm Capital Inc., and including Clarus Securities Inc., AltaCorp Capital Inc., Haywood Securities Inc., GMP Securities L.P., Scotia Capital Inc. and CIBC World Markets Inc. (collectively, the Underwriters). Net proceeds of the Offering are anticipated to be used to finance a portion of the Corporation's previously announced acquisition (the Monogram Acquisition) of an additional 53.8196% working interest in the Monogram unit and related infrastructure in the Province of Alberta (the Monogram Assets), with the portion of the purchase price that remains outstanding after the net proceeds are applied to be financed by bank debt; or, in the event that the Monogram Acquisition fails to close, to fund potential future acquisitions and general corporate expenses. Successful completion of the Offering is not a condition to the Monogram Acquisition and successful completion of the Monogram Acquisition is not a condition to the Offering. The Offering is presently scheduled to close on or about June 19, 2013.  Full Article

Pine Cliff Energy Ltd Issues FY 2013 Production Outlook
Friday, 22 Mar 2013 08:00am EDT 

Pine Cliff Energy Ltd announced that for fiscal 2013, it expects production to be in between 3,500-4,000 boe per day.  Full Article

Pine Cliff Energy Ltd Closes Private Placement For $5.35 Million-Canada Stockwatch News
Sunday, 2 Dec 2012 09:17pm EST 

Canada Stockwatch News reported that Pine Cliff Energy Ltd has closed the brokered private placement previously announced. The closing of the private placement occurred on November 30, 2012, and consisted of eight million common shares at a price of 70 cents per share for net proceeds, after payment of commissions and deduction of estimated offering costs, of approximately $5,354,000. Macquarie Private Wealth Inc. acted as agent in connection with the offering. The shares issued in connection with the private placement are subject to a statutory hold period of four months plus one day from the date of completion of the private placement, in accordance with applicable securities legislation. The Company intends to use the proceeds from the private placement to repay its credit facility.  Full Article

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