NEWS RELEASE |
Wednesday, March 1st, 2017
Nanton, AB/March 2017 — The Directors and Management of Cerus Energy Group Ltd. ("Cerus" or "the Company") wish to announce that Lomac Canada Ltd. (“Lomac”), a wholly owned subsidiary of Cerus, has successfully completed its restructuring process.
Lomac is preparing to commence operations by participating in Cerus’s Development Finance Platform (DFP), through the funding and purchase of Net Revenue Interests and Carried Working Interest participation.
Lomac has terminated the lease commitment to XR Resources Ltd., with respect to Lomac’s Aldersyde, Alberta tank farm and facility. In addition to the lease termination, XR Resources has formally agreed to waive all 2016 lease payments that are outstanding from Lomac.
Cerus, as Lomac’s sole shareholder, has authorized Cerus to dilute the common equity of Lomac, and has formally approved the future utilization of preferred share classes to raise proceeds for its corporate restructure and post restructuring operations.
Cerus has granted Lomac a formal Right of First Refusal (ROFR) to participate in the Cerus' DFP operations and investments.
For further information regarding Camarico, see the Company's profile on SEDAR at www.sedar.com.
Anthony Chan, CEO & CFO
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important
risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the
Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”,
“suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used
to identify forward-looking information. The forward-looking information in this news release describes the Company’s expectations
as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ
materially from actual results or events. Material factors which could cause actual results or events to differ materially from a
conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic
conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous
paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these
factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF
THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT
RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.