Mr. Timothy Turner reports
UNITED HUNTER OIL & GAS CORP. ANNOUNCES AN EXTENSION TO THE CURRENT
NON-BROKERED PRIVATE PLACEMENT
United Hunter Oil & Gas Corp. has extended by 30 days its previously announced non-brokered private placement to finance its financing commitments pursuant to the previously announced assignment transaction with Texaskew Energy LLC. In order to finance its transaction commitments and provide general working capital prior to completion of the transaction, the corporation will continue to conduct its current private placement of units for gross proceeds of up to $1-million, subject to a 20-per-cent overallotment option exercisable at United Hunter's discretion and subject to the approval of the TSX Venture Exchange. Each unit will comprise one common share and one-half of a common share purchase warrant at a price of five cents per unit. Each whole warrant will entitle the holder to acquire one additional common share of the corporation for a period of two years at a price of 10 cents, subject to acceleration as more particularly described in the corporation's Dec. 12, 2019, press release.
The corporation and Texaskew continue to work toward completion of the transaction. The completion of the transaction is subject to a number of conditions, including but not limited to completion of business, legal and tax due diligence by the parties to the transaction, receipt of GulfSlope's consent to the transaction, and the approval of the transaction by each of the TSX-V and the boards of United Hunter and Texaskew.
About United Hunter Oil & Gas Corp.
United Hunter is a Canadian-based corporation with management very experienced in the oil and gas industry.
We seek Safe Harbor.
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