Jadela Announces Private Placement, New Director and Grant of Options

Calgary, Alberta (FSCwire) - Jadela Oil Corp. ("Jadela" or “Corporation”) (TSXV: JOC) wishes to announce a proposed non-brokered private placement of up to 4,000,000 units at a price $0.05 per unit for gross proceeds of up to $200,000.  Each unit will be comprised of one common share in the capital of Jadela and one common share purchase warrant.  Each warrant will entitle the holder to purchase one common share at a price of $0.075 per common share exercisable no later than the earlier of: (a) the date that is two years from the date of issuance of such warrant; or (b) should the volume weighted average closing price of the Corporation’s common shares, as traded on the Exchange, exceed $0.20 per common share for more than 10 consecutive trading days following the date that is four (4) months and one (1) day after the closing date, the Corporation may accelerate the warrant exercise period to a date which is twenty (20) calendar days following the date of a press release is issued by the Corporation announcing the reduced warrant exercise period.  All of the securities issued under the private placement will be subject to a four month resale restriction and will contain a legend which will detail the resale restriction.  There is no minimum under the private placement and Jadela may close the offering in several tranches, however, the private placement must be concluded by September 19, 2014.

In connection with this private placement, Jadela will pay cash finder's fees equal to 10% of the funds raised to eligible finders who introduce subscribers to the private placement and issue one finder's fee warrant for every 10 units issued to such subscribers.  Each finder's fee warrant will be issued to finders on the same terms as the warrants comprising the units.  The offering is subject to approval from the TSX Venture Exchange. 

The Corporation is pleased to announce that Craig Lloyd Leggatt of Calgary, Alberta has joined the board of directors.  Craig has worked in a number of different capacities in the capital markets for over 15 years.  His capital markets experience encompasses investigations and enforcement with the Alberta Securities Commission; senior compliance experience with full service investment dealers and an institutional boutique; and corporate finance experience in the venture capital markets wherein Craig was responsible for junior market deals valued in excess of $100 million.   Craig has a Bachelor of Arts degree from the University of Waterloo and a Bachelor of Laws degree from Queen’s University.  Craig has been a member of the Law Society of Upper Canada since1991 and a member of the Law Society of Alberta since 1997.  Craig practices law with Wolff Leia an energy and securities law boutique in Calgary, Alberta.  Craig’s legal practice is focused on securities transactions and litigation.  Mr. Leggatt has been granted 450,000 stock options to acquire 450,000 common shares of Jadela at an exercise price of $0.05 per common shares.  Mr. Leggatt will become a member of the audit committee.  The audit committee now comprised of Gerald Roe (Chairman), Craig Lloyd Leggatt and Gregory J. Leia. Mr. Roe and Mr. Leggatt would be considered independent under NI 52-110.  The Corporation has also granted an additional 1,100,000 stock options to directors and officers of the Corporation to acquire 1,100,000 common shares of Jadela at an exercise price of $0.05 per common share.  

About Jadela

Jadela is a junior oil and gas exploration company.  For further information, please contact:

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