TORONTO, June 22, 2012 /CNW/ - Rift Energy Corp ("Rift Energy") is
pleased to announce the closing of a private equity financing whereby
7,525,000 common shares were issued at CAD$1.00 per common share for
gross proceeds of CAD$7,525,000 (CAD$7,041,500 net after costs) on June
13, 2012. Proceeds for this financing are to be used to initiate the
company's business focus on oil and gas exploration and production
opportunities in east and central Africa and for other general
corporate purposes. The $1 round equity financing was led by Hampton
Fred Zaziski, Rift Energy's President and CEO, stated "This initial
financing will be used to further advance acquiring several projects in
east and central Africa and put us on the path to our objective of
becoming a leading oil and gas company in this region. We have
assembled a management team with a successful track record in
international oil and gas projects with the goal of creating
substantial value for our shareholders".
About Rift Energy
Rift Energy is a privately owned early-stage oil and gas exploration
company headquartered in Toronto, Canada that is focused on acquiring
oil and gas projects in east and central Africa. Our management team
has a proven track record with regards to starting up successful
international oil and gas projects. Rift Energy's strategy is to
identify under-explored assets with high upside that, when exploited,
will yield substantial value for its shareholders. Our corporate
offices are located in Toronto, Canada, with our operational activities
located in the Woodlands, Texas.
The common shares of Rift Energy have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), or the securities laws of any state, and may not be
offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable exemption
from the registration requirements of the U.S. Securities Act and all
applicable state securities laws. This press release does not
constitute an offer to sell or the solicitation of an offer to buy the
common shares in the United States or to, or for the account or benefit
of, U.S. persons.
SOURCE Rift Energy Corp.
For further information:
President and CEO
Rift Energy Corp
47 Colborne Street, Suite 201
Toronto, ON M5E1P8 Canada
Chief Financial Officer
(832) 299-6692 ext 106
Rift Energy USA Inc.
2170 Buckthorne Place, Suite 350
The Woodlands, TX 77380 USA