/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
CAMARILLO, California,
Oct. 21, 2016 /PRNewswire/ -- BNK
Petroleum Inc. (the "Company") (TSX: BKX) is pleased to
announce that, in connection with its previously announced short
form prospectus offering of common shares of the Company (the
"Shares"), on a "commercially reasonable efforts" basis, at a price
of C$0.20 per Share (the "Offering"),
the Company has agreed with GMP FirstEnergy, as co-lead agent on
behalf of a syndicate including Haywood Securities Inc., as co-lead
agent, and Macquarie Capital Markets Canada Ltd. (collectively, the
"Agents"), to increase the amount of the Offering from up to
55,000,000 Shares to up to 70,000,000 Shares for aggregate gross
proceeds of up to C$14,000,000.
About BNK Petroleum Inc.
BNK Petroleum Inc. is an international oil and gas
exploration and production company focused on finding and
exploiting large, predominately unconventional oil and gas resource
plays. Through various affiliates and subsidiaries, the Company
owns and operates shale oil and gas properties and concessions in
the United States. Additionally
the Company is utilizing its technical and operational expertise to
identify and acquire additional unconventional projects. The
Company's shares are traded on the Toronto Stock Exchange under the
stock symbol BKX.
Caution Regarding Forward-Looking Information
This release contains forward-looking information including
statements regarding the Offering and the use of proceeds therefrom
and the timing thereof. The use of any of the words "target",
"plans", "anticipate", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe" and similar expressions are
intended to identify forward-looking statements. Such
forward-looking information is based on management's expectations
and assumptions, including that the Company will obtain the
necessary regulatory approvals, including the approval of the
Toronto Stock Exchange, and the other conditions to closing the
Offering will be satisfied. Forward-looking information
involves significant known and unknown risks and uncertainties,
which could cause actual results to differ materially from those
anticipated. These risks include, but are not limited to: any of
the assumptions on which such forward-looking information is based
vary or prove to be invalid, including that the Company will be
unable to obtain the necessary regulatory approvals, including the
approval of the Toronto Stock Exchange, and the other conditions to
closing the Offering will not be satisfied in a timely manner or at
all, and the other risks identified in the Company's most recent
Annual Information Form under the "Risk Factors" section, the
Company's most recent management's discussion and analysis
and the Company's other public disclosure, available under the
Company's profile on SEDAR at www.sedar.com. Although the Company
has attempted to take into account important factors that could
cause actual costs or results to differ materially, there may be
other factors that cause actual results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. The forward-looking information included in this
release is expressly qualified in its entirety by this cautionary
statement. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no
obligation to update these forward-looking statements, other than
as required by applicable law.
THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED
STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR
ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN
THE UNITED STATES OR TO U.S.
PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH
REGISTRATION IS AVAILABLE.
For further information: Wolf E.
Regener, +1 (805) 484-3613, Email:
investorrelations@bnkpetroleum.com, Website:
www.bnkpetroleum.com