MONTREAL, July 29 /CNW Telbec/ - Gale Force Petroleum Inc. (TSX Venture: GFP, the "Corporation") today announced that it has engaged Alternative Investment Partners, a division of Kingsmont Investment Management Inc., to broker a best-efforts private placement financing to finance acquisitions and the development of its properties.
The Corporation expects to raise between $1,000,000 and $3,000,000 in the private placement through the issuance of Units issued at a price of $0.30. Each Unit shall consist of one common share of the Corporation and one-half warrant. Each warrant will entitle its holder to purchase one common share of the Corporation for $0.50 for a period of 18 months following the closing of the financing. The financing is subject to TSX Venture Exchange approval.
ABOUT GALE FORCE PETROLEUM INC. - www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation with a focus on the development and exploitation of oil and gas resources in mature basins, building shareholder value by making accretive acquisitions and developing its properties. It owns oil and natural gas properties in Texas, Oklahoma, Tennessee and Kentucky.
ABOUT ALTERNATIVE INVESTMENT PARTNERS - www.AltInvestPartners.com
Alternative Investment Partners ("AIP") provides a global platform for small to mid market companies both on a principal investor and advisory basis. AIP is a registered exempt market dealer sub-branch of Kingsmont Investment Management. AIP understands that in an ever changing geopolitical and economic environment, both Issuers and Investors must look beyond their regional markets in order to raise capital or generate alpha.
"Neither 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 Gale Force Petroleum Inc.
For further information: For further information: Michael McLellan, Executive Chairman, +1.514.221.2030