|By Marketwired .||
|June 9, 2014 03:39 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- Simba Energy Inc. (TSX VENTURE: SMB)(FRANKFURT: GDA)(OTCQX: SMBZF) (the "Company" or "Simba") is pleased to announce a non-brokered private placement for gross proceeds of up to Cdn$3.0 million (the "Private Placement").
The Company is to issue up to 50 million units (the "Units") at a price of Cdn$0.06 per Unit, with each Unit consisting of one (1) common share in the capital of the Corporation and one (1) full share purchase warrant (a "Warrant"). Each Warrant is exercisable for four years to purchase one additional common share at a price of Cdn$0.10 during the first two year period, or at a price Cdn$0.15 for the next two year period. A hold period of four months and one day from date of issue will apply to all securities issued pursuant to the Private Placement.
Net proceeds from the Private Placement will be used towards funding and exploration commitments associated with the Company's Production Sharing Contracts in Kenya, retirement of certain debt and general working capital purposes.
The offering is available to residents of Canada, the United States and the United Kingdom pursuant to available prospectus and registration exemptions.
A finder's fee of 7% cash and 7% share purchase warrants ("Finder's Warrants") will be paid and issued in respect of a portion of the gross proceeds raised from the Private Placement. Each Finder's Warrant will entitle the finder to purchase one common share of the Company at a price of Cdn$0.10 for a period of two years from closing.
About Simba Energy: Simba Energy Inc. is establishing itself as a diversified international explorer and developer with a growing oil and gas acreage position in Africa, with onshore Production Sharing Contracts in Kenya, Guinea and Chad.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
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.
Simba Energy Inc.
Toll Free: 1-855-777-4622
Aug. 31, 2016 01:45 AM EDT Reads: 3,067
Aug. 31, 2016 01:00 AM EDT Reads: 1,703
Aug. 30, 2016 08:15 PM EDT Reads: 2,490
Aug. 30, 2016 08:00 PM EDT Reads: 1,929
Aug. 30, 2016 08:00 PM EDT Reads: 2,031
Aug. 30, 2016 07:15 PM EDT Reads: 363
Aug. 30, 2016 07:00 PM EDT Reads: 937
Aug. 30, 2016 06:15 PM EDT Reads: 374
Aug. 30, 2016 05:45 PM EDT Reads: 3,595
Aug. 30, 2016 05:00 PM EDT Reads: 905
Aug. 30, 2016 04:15 PM EDT Reads: 976
Aug. 30, 2016 03:30 PM EDT Reads: 3,782
Aug. 30, 2016 03:00 PM EDT Reads: 872
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 30, 2016 02:30 PM EDT Reads: 965
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 30, 2016 02:30 PM EDT Reads: 1,060