CaiTerra International Energy Announces Non-Brokered Private Placement
05 Juni 2014 - 2:50AM
Marketwired
CaiTerra International Energy Announces Non-Brokered Private
Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 4, 2014) -
CaiTerra International Energy Corporation (the "Company")
(TSX-VENTURE:CTI) announces that it intends to complete a
non-brokered private placement financing (the "Financing") of up to
20,000,000 units (each, a "Unit") of the Company at a price of
$0.10 per Unit for total proceeds of up to $2,000,000. Each Unit
will be comprised of one common share of the Company and one common
share purchase warrant. Each common share purchase warrant will be
exercisable into one common share of the Company at an exercise
price of $0.15 per share for two years from the date of
issuance.
Proceeds from the Financing are expected to be used for general
working capital. Finder's fees in the amount of up to 7% of the
gross proceeds of the Financing may be paid in connection with the
Financing.
All of the securities issued in connection with the Financing
will be subject to a four month hold period from the closing date
under applicable securities legislation. Completion of the
Financing will be subject to a number of conditions including the
approval of the TSX Venture Exchange.
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.
A Note Regarding
Forward-Looking Information
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. 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 press release
includes, but is not limited to, statements regarding the Company's
intention to complete a non-brokered private placement financing,
the proposed use of proceeds and the payment of finder's fees.
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 risks that the private placement may not be
completed as expected or at all, that the TSX Venture Exchange may
not approve the private placement and such other factors beyond the
control of the Company. Except as required by law, the Company
expressly disclaims any obligation, and does not intend, to update
any forward-looking statements or forward-looking information in
this news release.
CaiTerra International Energy CorporationCraig RobsonChief
Executive Officer and Director(778) 329-9629
CaiTerra International Energy (TSXV:CTI)
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