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EastSiberian to close private placement in tranches

2015-04-01 13:43 ET - News Release

Mr. Graeme Phipps reports

EASTSIBERIAN PLC ANNOUNCES PLANNED CLOSING OF PRIVATE PLACEMENT

EastSiberian PLC intends to close its previously announced non-brokered private placement of common shares for aggregate proceeds of up to $1.5-million at an issue price of five cents per common share in two or more tranches. The first tranche is expected to close on or about April 6, 2015. The proceeds from the financing will be used to pay for work done in respect of initiatives in pursuit of oil and gas opportunities in Latin America, as well as for payment of certain accounts payable and professional fees, and general working capital.

The common shares will be issued on a private placement basis, pursuant to exemptions from applicable Canadian, U.S. and international securities laws, and will be subject to a four-month-and-one-day hold period from the closing date of the private placement.

Completion of the private placement is subject to certain conditions, including the final approval of the NEX board of the TSX Venture Exchange to the listing of the common shares on the NEX.

We seek Safe Harbor.

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