02:28:41 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



EnerGulf Resources Inc
Symbol ENG
Shares Issued 93,657,725
Close 2016-06-24 C$ 0.05
Market Cap C$ 4,682,886
Recent Sedar Documents

EnerGulf Resources closes $310,609 private placement

2016-06-27 12:34 ET - News Release

Mr. Ernest Miller IV reports

ENERGULF ANNOUNCES PRIVATE PLACEMENT CLOSING OF $310,609

EnerGulf Resources Inc. has closed its previously announced non-brokered private placement for gross proceeds of $310,609.25. The private placement closed in two tranches, the first on May 30, 2016, for gross proceeds of $53,000, and the second on June 24, 2016, for $257,609.25. A total of 6,212,185 units were issued at a price of five cents per unit. Each unit comprises one common share and one warrant for the purchase of one additional common share at an exercise price of six cents per share for a period of 18 months after the date of closing. The private placement is subject to final acceptance by the TSX Venture Exchange.

The net proceeds of the private placement will be used for general corporate purposes and for potential oil and gas acquisition opportunities. Finders' warrants to acquire up to 164,931 additional common shares on the same terms as the private placement warrants were issued to one finder in connection with the private placement.

All securities issued on closing of the private placement are subject to a four-month hold period that expires on Sept. 30, 2016, for the first tranche, and Oct. 24, 2016, for the second tranche.

We seek Safe Harbor.

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