Mr. Peter Francis reports
Oracle Energy Corp. has received final approval from the TSX Venture Exchange on the closing of its non-brokered private placement, previously announced on June 17, 2014.
The company has issued 8.1 million units at a price of 10 cents per unit for gross proceeds of $810,000. Each unit consists of one common share and one-half of a common share purchase warrant, with each full unit warrant entitling the holder to acquire one additional common share of the company at a price of 15 cents per share for a period of 36 months from closing.
The company has paid a cash finder's fee of $9,500 and has issued 95,000 finder warrants to Foster & Associates Financial Services, with each finder warrant entitling the holder to purchase an additional common share of the company at a price of 15 cents for a period of 36 months from closing.
All securities issued pursuant to the private placement are subject to a restricted period of four months and one day from closing.
The company further announces the resignations of Loren Currie as corporate secretary and Alan Sendzul as chief investment officer. The company would like to acknowledge their contributions.
The company is pleased to announce the appointment of Gordon Fretwell as corporate secretary.
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