CALGARY, Feb. 18, 2014 /CNW/ - Fulucai Productions Ltd. (OTCQB: FCPS)
("Fulucai" or the "Company") announces that it has closed a private
placement of common shares. The Company has issued 4,044,000 common
shares at a price of $.25 per share for gross proceeds of $1,011,000
USD. The funds will be used to advance development of its recently
acquired New Mexico oil and gas assets and for general corporate
The Company also wishes to announce that it has granted 2,500,000 stock
options to its President and Director. The options, subject to vesting
period, are exercisable over a period of 5 years at a price of $.25 per
About Fulucai Productions Ltd.
Fulucai is an oil and gas company whose wholly-owned subsidiary, Blue
Sky NM Inc., owns a 65% working interest in producing oil and gas
properties in the state of New Mexico. The properties consist of 299
wells found in leases covering approximately 14,000 acres. Blue Sky NM
Inc. is the operator of the properties.
ON BEHALF OF THE BOARD
Chief Executive Officer
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities laws. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" occur.
Forward-looking information in this news release includes, but is not
limited to, statements regarding expectations of management regarding
the expiry of hold periods attached to the securities issued in
settlement of debts as described in this news release. Although the
Company believes that the expectations reflected in the forward-looking
information are reasonable, there can be no assurance that such
expectations will prove to be correct. Such forward-looking statements
are subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those contained
in the statements including, without limitation, the risk that the hold
period on the shares may not expire as expected. Other than as required
by law, the Company does not intend to update the forward-looking
information contained in this news release.
No stock exchange or regulatory authority has approved or disapproved of
the information contained herein.
SOURCE: FuLuCai Productions Ltd.
For further information:
Mr. Mo Fazil
T: 1 (403) 613-7310