/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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TSX-V: NZ
OTCQX: NZERF
VANCOUVER, March 21, 2012 /PRNewswire/ - New Zealand Energy
Corp. (TSX-V: NZ, OTCQX: NZERF) ("NZEC" or the
"Company") is pleased to announce that it has completed its
previously announced bought deal financing (the
"Offering"). NZEC, through a syndicate of underwriters
led by Canaccord Genuity Corp. and including Macquarie Capital
Markets Canada Ltd., Mackie Research Capital Corporation, PI
Financial Corp. and Haywood Securities Inc. (collectively, the
"Underwriters"), issued 21,160,000 common shares at a price
of $3.00 per common share, for gross
proceeds of $63,480,000. The
Underwriters elected to exercise their over-allotment option in
full with respect to the Offering.
The net proceeds of the Offering will be used to
explore and develop NZEC's oil and gas properties, for additional
geologic and technical studies, and for other general corporate
purposes.
The securities offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or
applicable exemption from the registration requirements. This news
release does not constitute an offer to sell or the solicitation of
any offer to buy nor will there be any sale of these securities in
any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such province, state
or jurisdiction.
On behalf of the Board of Directors
"John Proust"
Chief Executive Officer & Director
About New Zealand Energy Corp.
NZEC is an oil and natural gas company engaged in
the production, development and exploration of petroleum and
natural gas assets in New Zealand.
NZEC's property portfolio collectively covers nearly two million
acres of conventional and unconventional prospects in the Taranaki
Basin and East Coast Basin of New
Zealand's North Island. The Company's management team has
extensive experience exploring and developing oil and natural gas
fields in New Zealand and
Canada, and takes a
multi-disciplinary approach to value creation with a track record
of successful discoveries. NZEC plans to add shareholder value by
executing a technically disciplined exploration and development
program focused on the onshore and offshore oil and natural gas
resources in the politically and fiscally stable country of
New Zealand. NZEC is listed on the
TSX Venture Exchange under the symbol NZ and on the OTCQX
International under the symbol NZERF. More information is available
at www.newzealandenergy.com or by emailing
info@newzealandenergy.com.
Forward-looking Statements
This news release contains certain
forward-looking information and forward-looking statements
within the meaning of applicable securities legislation
(collectively "forward-looking statements"). The use of any of the
words "will be", "plans" and similar expressions are intended to
identify forward-looking statements. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements, including without
limitation, the speculative nature of exploration, appraisal and
development of oil and natural gas properties; changes in the cost
of operations, including costs of extracting and delivering oil and
natural gas to market, that affect potential profitability of oil
and natural gas exploration; the need to obtain various approvals
before exploring and producing oil and natural gas resources;
uncertainty in the timing of receipt of permits and the Company's
ability to extend the permits if required; market conditions that
prevent the Company from raising the funds necessary for
exploration and development on acceptable terms or at all;
unexpected costs or liabilities for environmental matters;
competition for, among other things, capital, acquisitions of
resources, skilled personnel, and access to equipment and services
required for exploration, development and production; changes in
exchange rates, laws of New
Zealand or laws of Canada
affecting foreign trade, taxation and investment; failure to
realize the anticipated benefits of acquisitions; and other factors
as disclosed in documents released by NZEC as part of its
continuous disclosure obligations. NZEC believes the expectations
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
correct. Such forward-looking statements included in this news
release should not be unduly relied upon. These statements speak
only as of the date of this news release and NZEC does not
undertake to update any forward-looking statements that are
contained in this news release, except in accordance with
applicable securities laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE New Zealand Energy Corp.
