Spyglass Resources Corp. Provides 2012 Tax Information for Avenex Energy Corp. Dividends

ID: 1211769
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(businesspress24) - CALGARY, ALBERTA -- (Marketwire) -- 03/28/13 -- Spyglass Resources Corp (TSX: SGL) ("Spyglass") on behalf of AvenEx Energy Corp. ("AvenEx") (TSX: AVF) provides the following tax information:

2012 Canadian Shareholder Tax Information

The following information is provided solely to assist Canadian shareholders of AvenEx in connection with the preparation of their 2012 Income Tax Return and is not intended to be tax advice in any way but rather, it is provided as general information. Shareholders should consult their own tax advisors as to their particular tax consequences.

AvenEx dividends declared in 2012 are designated as "eligible dividends" for the purposes of the Income Tax Act (Canada) and similar provincial legislation.

2012 U.S. Shareholder Tax Information

The following information is provided solely to assist former U.S. shareholders of AvenEx in connection with the preparation of their 2012 income tax return. The information is general in nature only and does not address U.S. state or local tax treatment, and is not intended to constituter tax advice to former holder of AvenEx shares. Former U.S. investors of AvenEx should consult their own tax advisors as to their particular tax consequences, including the proper U.S. federal income tax treatment of dividends from AvenEx.

For U.S. tax purposes, AvenEx believes that it should be treated as a corporation by its U.S. investors. As such, under U.S. federal tax law, 100% of the 2012 dividends declared by AvenEx should be considered dividends for U.S. income tax purposes.

AvenEx believes that the 2012 dividends paid to U.S. residents should be treated as "qualified dividends" and, generally, these dividends should be eligible for the maximum tax rate of 15% applicable to "qualified dividends". However, a taxpayer's own situation must be considered before making this determination.

Generally, former shareholders of AvenEx who are residents of the U.S. are subject to a 15% Canadian withholding tax on the dividends received from AvenEx. Canadian withholding taxes should generally qualify for a foreign tax credit for the purposes of computing U.S. federal income taxes, subject to certain limitations.

For additional details on monthly dividends paid in 2012 and previous years, please visit the AvenEx website at . An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at .

Contacts:


Spyglass Resources Corp.
Mark Walker
Sr. VP Finance & CFO
(403) 457-1619



Spyglass Resources Corp.
Dan O'Byrne
President
(403) 457-1615



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Date: 03/28/2013 - 17:15
Language: English
News-ID 1211769
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Kontakt-Informationen:
Firma: Spyglass Resources Corp.
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: CALGARY, ALBERTA
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