Valparaiso Energy Inc. - Announcement of private placement
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES/
CALGARY, April 2, 2014 /CNW/ - Valparaiso Energy Inc. (the "Corporation") (VPO.H) is pleased to announce that it intends to complete a private placement financing of up to $400,000 through the issuance of units consisting of up to 8,000,000 common shares of the Corporation at a price of $0.05 per share and 4,000,000 share purchase warrants. Each warrant entitles the holders thereof to purchase an additional common share for a period of twelve (12) months from the closing date at a price of $0.15 per common share. Both the common shares, and any shares issued pursuant to the exercise of warrants, will be subject to a four month hold period. Insiders are expected to subscribe for securities in the private placement transaction. Details of such insider subscriptions will be provided in further news releases regarding the financing. Finders and brokers will be entitled to a 6% commission or finder's fee for subscriptions facilitated by such finders or brokers. The closing of the offering and the payment of any finder's fees are subject to any and all required regulatory approvals, including approval of the NEX Board of the TSX Venture Exchange.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Valparaiso Energy Inc., with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Specifically, certain of the transactions referenced herein are subject to regulatory approval, and there can be no guarantee that such approvals will be received, in a timely manner or at all. Actual results and events may vary.
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 Valparaiso Energy Inc.For further information:
William J. Wylie
Valparaiso Energy Inc.
T: 403.266.5515 (Ext. 4)