January 26, 2017
CALGARY, ALBERTA--(Marketwired - Jan. 26, 2017) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce that its 100% owned and operated Elmworth / Pipestone facility (the "Facility") and pipeline gathering system (the "Gathering System") located at 12-14-70-7W6 is currently being commissioned. Blackbird expects that it will achieve initial Montney production on Monday, January 30, 2017.
Garth Braun, Blackbird's Chairman, Chief Executive Officer and President stated: "The transition to production and cash flow is a significant step in Blackbird's evolution. The production data obtained over the following months will enable Blackbird to more accurately plan for large-scale processing and take-away commitments".
2017 Blackbird Annual and Special Meeting
Blackbird is pleased to announce that its 2017 Annual and Special Meeting of Shareholders will be held on March 8, 2017 at 1 P.M. in the Wildrose South Room at the Sheraton Eau Claire, 255 Barclay Parade S.W., Calgary, Alberta (the "Meeting").
A management information circular and related meeting materials (collectively, the "Meeting Materials") were mailed to Blackbird registered shareholders on January 26, 2017 and are available under the Company's profile on SEDAR at www.sedar.com.
Shareholders who are unable to attend the Meeting in person will be able to listen to the conference call and concurrently view a live webcast presentation of the Meeting. The dial-in and log-in information for the conference call and webcast will be made available on Blackbird's website at www.blackbirdenergyinc.com one week prior to the Meeting.
The Company is also pleased to announce that its board of directors has approved an advance notice policy (the "Policy") and is seeking shareholder ratification of the Policy at the Meeting. The full text of the Policy is available in Schedule A of the Company's management information circular which is available under the Company's profile on SEDAR at www.sedar.com. The purpose of the Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors, which will facilitate an orderly and efficient meeting process and ensure that all shareholders receive adequate notice and information regarding director nominations.
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.
Blackbird Energy Inc.
Chairman, CEO and President
Blackbird Energy Inc.
Chief Financial Officer
Blackbird Energy Inc.
Vice President, Business Development
Advisories and Forward-Looking Information
This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. Such forward-looking statements include but are not limited to statements regarding Blackbird's Facility and Gathering System commissioning, Blackbird's imminent initial production, Blackbird's ability to plan for large-scale processing and take-away commitments, the availability of dial-in and log-in information and the proposed ratification of the Policy at the Meeting. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current views and are based on certain expectations, estimates, and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling and completion risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties, and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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.
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