CALGARY, Alberta , Aug. 15, 2017 (GLOBE NEWSWIRE) -- Further to its August 11, 2017 press release, Butte Energy Inc. (“Butte” or the “Company”) (TSXV:BEN.H) is pleased to announce that the sale of the Company’s Chigwell properties to RKSmith Energy Corp. (the “Transaction”) has been completed. The Transaction constituted the final disposition of all the Company’s remaining assets. Butte intends to use the proceeds from the Transaction for the settlement of obligations and after the payment of its liabilities the Company anticipates that there will be no residual for a distribution to shareholders.
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Specifically, this news release includes, but is not limited to, forward-looking statements with respect to distributions to shareholders and use of Transaction proceeds. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks associated with general economic conditions, adverse industry events, loss of markets, inability to obtain regulatory approvals, the liabilities of the Corporation, income tax and regulatory matters. Although the Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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