09:13:27 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Oracle Energy Corp (3)
Symbol OEC
Shares Issued 39,583,337
Close 2018-05-22 C$ 0.26
Market Cap C$ 10,291,668
Recent Sedar Documents

Oracle Energy swaps shares for $335,000 debt

2018-05-22 17:59 ET - News Release

Mr. Peter Francis reports

ORACLE UPDATES RECENT INITIATIVES

Oracle Energy Corp. has closed its previously announced shares for debt settlements (see news release dated May 2, 2018), and accordingly has settled $335,000 in debt to certain officers, directors and contractors of the company by issuing 2,913,043 shares at a price of 11.5 cents per share. The company also announces that it is in the process of conducting the non-brokered private placement of up to 13 million units at a price of 11.5 cents per unit for proceeds of up to $1.5-million which was announced May 2, 2018. The minimum number of units to be issued will be 4,347,826 units and the maximum 13,043,478 units resulting in a minimum of $500,000 gross proceeds and a maximum of $1.5-million gross proceeds to be raised. It is anticipated that a minimum of $10,000 and a maximum of $1-million from the financing will be used for the company's oil and gas project in Italy and a minimum of $100,000 and a maximum of $500,000 will be used as general working capital specifically allocated to review and evaluate opportunities in the Eagle Ford shale formation in south Texas. The company confirms that there is no material fact or material change about the company that has not been generally disclosed.

About Oracle Energy Corp.

Oracle Energy is an international oil and gas exploration and development company.

© 2024 Canjex Publishing Ltd. All rights reserved.