Attached files
| file | filename |
|---|---|
| 8-K - Triangle Petroleum Corp | v176908_8-k.htm |
| EX-3.1 - Triangle Petroleum Corp | v176908_ex3-1.htm |
| EX-99.1 - Triangle Petroleum Corp | v176908_ex99-1.htm |
| EX-10.1 - Triangle Petroleum Corp | v176908_ex10-1.htm |
| EX-99.2 - Triangle Petroleum Corp | v176908_ex99-2.htm |
EXHIBIT
99.3
Press
Release
TRIANGLE
PETROLEUM ANNOUNCES PRICING OF
PRIVATE
OFFERING OF 27,993,939 COMMON SHARES
Calgary, Alberta, March 11, 2010 – Triangle Petroleum
Corporation (“Triangle”) (TSXV: TPE; OTCBB: TPLM) today announced that it
has priced its private offering (the “Private Offering”) of shares of its common
stock (“Common Shares”) and entered into subscription and registration rights
agreements with certain accredited investors for the private placement of
27,993,939 newly-issued Common Shares at a purchase price of $0.33 per
share. The net proceeds of the Private Offering are expected to be
approximately $8,300,000. Triangle intends to use the net proceeds
for (i) financing development obligations pursuant to the joint participation
agreement, effective January 15, 2010, with Slawson Exploration Company, Inc.,
aimed at the acquisition and development of acreage in known areas of production
in McKenzie and Williams Counties of North Dakota, (ii) acquiring and developing
additional acreage in the Bakken Shale play and (iii) for general corporate
purposes. Pursuant to the subscription and registration rights
agreements, Triangle will provide limited “piggyback” registration rights to
subscribers of shares in the Private Offering.
The
closing of the Private Offering is scheduled to take place on March 12,
2010.
This
press release is being issued pursuant to Rule 135c under the Securities Act of
1933, as amended, and is neither an offer to sell nor a solicitation of an offer
to buy the Common Shares or any other securities and shall not constitute an
offer to buy, or a sale of, the Common Shares or any other securities in any
jurisdiction in which such offer, solicitation or sale is
unlawful. The Common Shares are not registered under the Securities
Act of 1933, as amended, and therefore may not be offered or sold in the United
States absent registration or an applicable exemption from
registration.
Certain
statements in this news release should be regarded as “forward-looking”
statements within the meaning of the securities laws. These
statements speak only as of the date made and are subject to assumptions and
estimates that Triangle’s management believes are reasonable based on currently
available information. Actual results or events may vary
materially. Any number of factors could cause actual results to
differ materially from those in the forward-looking statements, including, but
not limited to, the discovery, estimation, development and replacement of oil
and gas reserves; timing and amount of future production of oil and gas; the
volatility of oil and gas prices; future operating or financial results; and the
availability and terms of capital. Further information on risks and
uncertainties is available in Triangle’s filings with the SEC.
Neither
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.