Mr. Timothy Turner reports
UNITED HUNTER OIL AND GAS CORP. ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT CLOSING OF THE FIRST TRANCHE
United Hunter Oil & Gas Corp. has arranged a non-brokered private placement of up to 10 million common shares at a price of 10 cents per common share for gross proceeds of up to $1-million.
The private placement of up to 10 million common shares at a price of 10 cents per common share for gross proceeds of up to $1-million will be non-brokered, however, the company may pay finders' fees in accordance with the rules and policies of the TSX Venture Exchange. It is expected that the common shares offered under the private placement will be eligible under all usual statutes, including RRSPs (registered retirement savings plans) and TFSAs (tax-free savings accounts). The first tranche will be for $70,000, and the corporation will be issuing 700,000 common shares at a price of 10 cents per common share.
The private placement is subject to certain customary conditions, including, but not limited to, the execution of definitive subscription agreements with subscribers, and the receipt of any and all necessary regulatory approvals, including that of the TSX-V. Closing of additional tranches and of the full private placement is anticipated to occur within 30 days or as long as the corporation deems necessary. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
The net proceeds from the private placement will be used for expenses associated with due diligence and legal expenses investigating several new projects, general working capital, and repayment of debt.
About United Hunter Oil & Gas Corp.
United Hunter is a Canadian-based corporation with management very experienced in the oil and gas industry with projects in the United States.
We seek Safe Harbor.
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