CALGARY, ALBERTA--(Marketwire - Aug. 31, 2012) - Sundance Energy Corporation ("Sundance" or the "Corporation") (TSX VENTURE:SNY) (OTCQX:SNYXF) announces that at this time it will not be proceeding with its previously announced $0.12 per Unit flow-through financing. Although Sundance had received expressions of interest exceeding the minimum closing amount of $500,000 set by management, its board of directors has decided to instead pursue alternative sources of financing to develop its properties at Alexander, Central Alberta, and Ochapowace and Muskowekwan in SE Saskatchewan. Potential opportunities available to Sundance and which are in discussions include third party joint ventures or farm-ins, and certain other forms of corporate transactions that Sundance's management and board of directors believes if finalized will offer more accretive value to its shareholders than would closing the proposed financing.
Sundance Energy Corporation is a junior publicly traded oil and gas company whose primary focus is exploring First Nation Lands in Western Canada. Sundance trades in Canada on the TSX Venture Exchange under the trading symbol "SNY" and on the OTCQX in the U.S.A. under the trading symbol "SNYXF".
Forward Looking Statements
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are exploration risks detailed from time to time in the filings made by the Corporation with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Sundance. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Sundance does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein.