TORONTO, June 24 /CNW/ - Eagleford Energy Inc. (OTCBB: EFRDF) ("Eagleford Energy" or the "Company"), an oil and gas development company focused on Eagle Ford Shale properties, today announced that it has retained Gar Wood Securities, LLC ("Gar Wood") to act as its exclusive Investment Banker/Financial Advisor to the Company for a period of two years, for the purpose of raising capital to fund growth and expansion.
As consideration, Eagleford Energy has agreed to issue 1,000,000 warrants with a strike price of US$1.00 per common share and 500,000 warrants with a strike price of US$1.50 per common share. The warrants are issuable in three equal tranches.
"We are pleased to be working with such a reputable firm as Gar Wood and their investment banking team. Our needs dovetail nicely with the expertise they exhibit in the small- and micro-cap markets. Jack Spears and his team have a long history of working with companies just like ours; sound management teams with executable strategies and catalysts for growth, yet little or no Wall Street coverage," stated James Cassina, President of Eagleford Energy.
"Eagleford Energy represents an exciting opportunity in the Eagle Ford Shale play, and we are pleased to be assisting them with their financing and growth objectives," stated Jack Spears of Gar Wood Securities.
About Eagleford Energy Inc.
Eagleford Energy Inc. is a growth orientated oil and gas company with a focus on growing hydrocarbon reserves, cash flow, and net asset value per share through exploration and production of mineral properties in South Texas. The Company is actively pursuing leases and drilling opportunities in Zavalla County, Texas and throughout the region with a primary objective of obtaining high-demand Eagle Ford Shale acreage for follow up exploration and production.
There are approximately 25.3 million shares issued and outstanding in the capital of the Company.
About Gar Wood Securities, LLC.
Gar Wood Securities, LLC, ("Gar Wood") is an institutional broker-dealer providing a comprehensive suite of financial services. Gar Wood was founded in 2004 by Bob Jersey and Dennis Gerecke, both with extensive operational and prime brokerage experience. Since inception, the firm has quickly grown to over 40 professionals located in Chicago, New York, Dallas, Milwaukee, Mobile, and Vancouver, WA. Gar Wood has rapidly earned a reputation for exceptional client service and effective management of prime brokerage, trade execution, third party marketing and structured products. They are members of FINRA, SIPC, and NFA.
Certain information regarding the Company in this news release may constitute forward-looking statements under applicable securities laws. The forward-looking information includes, without limitation, statements regarding impact from the shut-in of facilities, the applicability of royalty reductions, and impact on future funds flow. Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release, which assumptions are based on management analysis of historical trends, experience, current conditions and expected future developments pertaining to the Company and the industry in which it operates as well as certain assumptions as specifically outlined in the release above. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release. Undue reliance should not be placed on forward-looking information, which is not a guarantee of performance and is subject to a number of risks or uncertainties. Readers are cautioned that the foregoing list of risk factors is not exhaustive. Forward-looking information is based on the estimates and opinions of the Company's management at the time the information is released and the Company disclaims any intent or obligation to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise, other than as expressly required by applicable securities laws.
SOURCE Eagleford Energy Inc.
For further information: For further information: Investor Relations, Eagleford Energy Inc., Telephone: 877-723-5542, Facsimile: 416 364-8244; Jackson Spears, Gar Wood Securities, LLC, (414) 289-7176, firstname.lastname@example.org