Novus Energy Inc. Announces Appointment of Financial Advisors in
Value Realization Process
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
CALGARY,
Dec. 4, 2012 /CNW/ - Novus Energy
Inc. ("Novus" or the "Company") announces that it has retained
Cormark Securities Inc. ("Cormark"), as lead, and FirstEnergy
Capital Corp. ("FirstEnergy") as its financial advisors to assist
the Special Committee of the Board of Directors in exploring and
evaluating a broad range of options to optimize shareholder
value.
On November 20,
2012, in conjunction with the release of the Company's third
quarter 2012 results, Novus announced that, due to the high quality
of Novus' asset base and the significant amount of industry
interest and recent activity in the Company's Viking oil core area
of Dodsland Saskatchewan, the
Board of Directors of Novus had struck a Special Committee of the
Board to consider how to optimize shareholder value.
Such options may include, but are not limited
to, a sale of all or a portion of the assets of the Company, a
merger or other business combination of the Company with another
entity, a sale of the Company as a whole or any combination
thereof.
A data room shall be available for interested
and qualified parties wishing to enter into a confidentiality
agreement. The Company has not established a definitive schedule to
complete its review and consideration of options to optimize
shareholder value and does not intend to disclose developments with
respect to the process unless and until the Board of Directors has
approved a specific transaction or otherwise determines that
disclosure is appropriate.
Parties interested in obtaining further information
regarding the process can contact Cormark at novus@cormark.com or
FirstEnergy at novus@firstenergy.com.
Novus Shares trade on the TSX Venture Exchange
under the symbol NVS. Novus currently has 189.4 million common
shares outstanding.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release will not constitute an
offer to sell or the solicitation of an offer to buy the securities
in any jurisdiction. Such securities have not been
registered under the United States Securities Act of 1933 and
may not be offered or sold in the
United States, or to a U.S. person, absent registration, or
an applicable exemption therefrom.
ADVISORY REGARDING FORWARD LOOKING
STATEMENTS
Certain disclosures set forth in this press
release constitute forward-looking statements. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"anticipate", "believes", "budget", "continue", "could",
"estimate", "forecast", "intends", "may", "plan", "predicts",
"projects", "should", "will" and other similar expressions. All
estimates and statements that describe the Company's future, goals,
or objectives, including Management's assessment of future plans
and operations, may constitute forward-looking information under
securities laws. Forward looking statements involve known and
unknown risks and uncertainties which include, but are not limited
to: the failure of the Company to undertake a sale of all or a
portion of the assets of the Company, a merger or other business
combination of the Company with another entity, a sale of the
Company as a whole or any combination thereof; exploration,
development and production risks; assessments of acquisitions;
reserve measurements; availability of drilling equipment; access
restrictions; permits and licenses; aboriginal claims; title
defects; commodity prices; commodity markets, transportation and
marketing of crude oil, liquids and natural gas; reliance on
operators and key personnel; competition; corporate matters;
funding requirements; access to credit and capital markets; market
volatility; cost inflation; foreign exchange rates; general
economic and industry conditions; environmental risks; Kyoto protocol; and government regulation and
taxation.
Forward-looking statements relate to future
events and/or performance and although considered reasonable by
Novus at the time of preparation, may prove to be incorrect and
actual results may differ materially from those anticipated in the
statements made. Novus does not undertake any obligation to
publicly update forward-looking information except as required by
applicable securities law.
Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and
other factors that could affect Novus' operations or financial
results are included in reports on file with applicable securities
regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com), and at Novus' website
(www.novusenergy.ca). The forward-looking statements and
information contained in this press release are made as of the date
hereof and Novus undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable securities laws.
SOURCE Novus Energy Inc.