PFC is for sale rally coming
Headline: PetroFrontier Corp. retains GMP Securities L.P. to assist in strategic review
Symbol: PFC
CALGARY, Jan. 14, 2013 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier" or the "Corporation") announces,
further to its press release dated December 4, 2012, that it has
retained GMP Securities L.P. ("GMP") as the Corporation's exclusive
financial advisor. GMP will assist the Corporation in identifying and
evaluating a range of strategic alternatives, which could include a
recapitalization of the Corporation, a merger or other business
combination of the Corporation with another entity or the sale of the
Corporation as a whole. Over the past few weeks, the Corporation has
received a number of inquiries, has opened an electronic data room and
has already signed confidentiality agreements with several parties.
PetroFrontier cautions that there are no guarantees that this strategic
alternative review process will result in a transaction or, if a
transaction is undertaken, as to its terms or timing. The Corporation
has not set a definitive schedule to complete its evaluation and does
not intend to disclose developments with respect to this process unless
and until the evaluation has been completed or a definitive agreement
has been reached, unless otherwise determined or required by law.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas exploration company
engaged in the exploration, acquisition and development of both
conventional and unconventional petroleum assets in Australia's
Southern Georgina Basin, where it has an approximate 85.5% working
interest in 14.1 million gross acres. PetroFrontier's common shares are
listed on the TSX Venture Exchange under the symbol "PFC". Founded in
2009, PetroFrontier is one of the first companies to undertake
exploration in the Southern Georgina Basin in Australia's Northern
Territory. PetroFrontier's head office is based in Calgary, Alberta
and its operations office is in Adelaide, South Australia.
Forward-Looking Statements
This press release may contain forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which
are beyond the control of PetroFrontier, including, without limitation,
statements pertaining to the potential timing and results of the review
process and to management's future plans and operations. All
statements included herein, other than statements of historical fact,
are forward-looking information and such information involves various
risks and uncertainties. There can be no assurance that such
information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
information. A description of assumptions used to develop such
forward-looking information and a description of risk factors that may
cause actual results to differ materially from forward-looking
information can be found in PetroFrontier's disclosure documents on the
SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this
release and, other than as required by applicable securities laws,
PetroFrontier does not assume any obligation to update or revise them
to reflect new events or circumstances.
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.
SOURCE: PetroFrontier Corp.