TORONTO, ONTARIO--(Marketwired - Nov. 28, 2017) - United Hunter Oil and Gas Corp. (TSX VENTURE:UHO)(FRANKFURT:18U) ("UHO" or the "Corporation") announces a non-brokered private placement (the "Private Placement") of up to 10,000,000 Common Shares at a price of $0.10 per Common Share for gross proceeds of up to $1 million.
Private Placement
The Private Placement of up to 10,000,000 Common Shares at a price of $0.10 per Common Share for gross proceeds of up to $1,000,000 will be non-brokered, however, the Company may pay finder's fees in accordance with the rules and policies of the TSXV. It is expected that the Common Shares offered under the Private Placement will be eligible under all usual statutes including RRSPs and TFSAs. The first tranche will be for $70,000 and the Corporation will be issuing 700,000 Common Shares at a price of $0.10 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 TSXV. Closing of additional tranches and of the full Private Placement are anticipated to occur within thirty 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 the Issuer
United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based corporation with management very experienced in the oil and gas industry with projects in the United States. United Hunter Oil & Gas Corp. is publicly traded on the TSX Venture Exchange (TSX VENTURE:UHO) and Frankfurt Exchange (FRANKFURT:18U). The Corporation's public filings may be found at www.sedar.com.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.