ROLLAND ENERGY RETAINS BECHER MCMAHON TO BROKER FINANCING
20080603_bmcap-retainedMontreal, June 3, 2008 – Rolland Energy Inc. has announced today that it has engaged Becher McMahon Capital Markets Inc. (“Becher McMahon”) to broker a best-efforts equity financing. The Corporation expects to raise gross proceeds of approximately $4 million, which will be used by the Corporation to finance the acquisition and development of the Kentucky Shale Gas Property, to repay debt, and for working capital and general corporate purposes.
As previously announced, the Corporation’s name will change to Gale Force Petroleum Inc. and there will be a consolidation of the corporation’s common shares on an 8:1 basis on or before June 6, 2008. The Corporation’s new ticker symbol on the TSX Venture Exchange will be ‘GFP’.
“The series of transactions being contemplated by the corporation – the consolidation, financing, debt repayment and acquisition of the Kentucky Shale Gas Property – will positively transform the corporation” said Michael McLellan, President and Chief Executive Officer. “With a much improved balance sheet, tighter capital structure, and a new property in Kentucky with long-term development potential, the corporation will be on a path to create substantial value for its shareholders.”
ABOUT ROLLAND ENERGY INC. ? www.RollandEnergy.com
Rolland Energy is a public oil and gas corporation focused on acquiring and developing oil and gas properties in North America, building shareholder value through growth.
ABOUT BECHER MCMAHON CAPITAL MARKETS INC. ? www.bmcapitalmarkets.com
Becher McMahon Capital Markets is an independent Limited Market Dealer (LMD), with a wealth of experience in corporate finance, mergers and acquisitions, deal generation, asset management and corporate management.
For more information, please contact:
Rolland Energy Inc.
Michael McLellan, +1.514.333.9292
Becher McMahon Capital Markets Inc.
Campbell Becher, +1.647.426.1660
Forward looking statements:
Statements included herein, including those that express management’s expectations or estimates of our future performance, constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements – especially but not limited to any geological or reservoir information not supported by a NI 51-101 report – are based on assumptions and estimates that are subject to various risks and uncertainties including but not limited to geological risk, engineering risks, market risk and the risks disclosed under the heading “Business Risks” in the Corporation’s periodic filings with Canadian securities regulators, including most recently in its Management Discussion and Analysis for the exercise ended June 30, 2007 available on SEDAR. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statements.
“The TSX Venture Exchange has not reviewed this release and therefore does not accept responsibility for its adequacy or accuracy.”
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