CALGARY, ALBERTA -- (Marketwired) -- 07/13/17 -- Blackbird Energy Inc. (TSX VENTURE: BBI)("Blackbird" or the "Company") would like to clarify certain statements that appear in an article that was published on July 13, 2017, that alleged, among other things, that in connection with the public offering of common shares by the Company that closed on March 14, 2017 (the "Offering"), an unauthorized payment was made by the Company to an investment advisor. Blackbird denies any improper payment being made to any advisor in connection with the Offering.
Approximately 10 days following the completion of the Offering, the Company did make a payment in the amount of approximately $104,000 to an individual that was involved in the Offering, however, such payment was unrelated to the Offering. The payment to such individual was solely for consulting services provided by such individual to the Company over the course of a three year period plus out-of-pocket expenses incurred by the individual in the provision of such consulting services. Prior to the payment being made, the individual was advised that such payment should be disclosed to his or her investment firm in order to comply with any applicable rules. The payment was also accounted for in the third quarter unaudited condensed interim financial statements of the Company.
The Company takes any allegations of impropriety seriously and will continue to investigate this matter further. If any material information arises out of any such investigation the Company will update investors.
About Blackbird
Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.
For more information, please view our Corporate Presentation at www.blackbirdenergyinc.com
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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 press release.
Contacts:
Blackbird Energy Inc.
Garth Braun
Chairman, CEO, and President
(403) 500-5550
gbraun@blackbirdenergyinc.com
Jeff Swainson
Chief Financial Officer
(403) 699-9929
jswainson@blackbirdenergyinc.com
