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Africa Hydrocarbons Closes Oversubscribed Non Brokered Placement
(via TheNewswire) Calgary, Alberta / TheNewswire / August 25, 2017 - Africa Hydrocarbons...
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[{"type":"text","content":"Africa Hydrocarbons Closes Oversubscribed Non Brokered Placement(via TheNewswire)\n \n \nCalgary, Alberta / TheNewswire / August 25, 2017 - Africa Hydrocarbons Inc. (NFK.H: NEX | KNPRF: PNK | KRL1: STU) (\"AHI\" or the \"Company\") announces that it has received NEX / TSX Venture Exchange acceptance and closed its non-brokered private placement (the \"Private Placement\") originally announced July 24, 2017 and August 1, 2017. The Company issued 2,000,000 common shares (\"Common Shares\") at a price of CAD$0.50 per Common Shares, raising gross proceeds of CAD$1,000,000. \n\n \n \nThe securities issued by the Company in this Private Placement are subject to a statutory hold period which expires on December 26, 2017.\n\n \n \nFinders' fees totaling CAD$70,000 in cash and a finder's warrant to acquire 70,000 Common Shares were paid to Smaller Capital Company Ltd. in respect of subscribers incidental to the Private Placement in accordance with the policies of the NEX / TSX Venture Exchange. The finder's warrants are exercisable at a price of CAD$0.50 for a period of 12 months from closing.\n\n \n \nThe net proceeds from the Private Placement will be used in connection with continued operations of the Company, payment of outstanding debts, bringing the Company's continuous disclosure record up to date and examining what financial and strategic alternatives may be available to the Company and towards general and administrative expenses. \n\n\n \nAbout the Company \n\n \n \nAfrica Hydrocarbons Inc. is a Canadian based Issuer listed on the NEX board of the TSX Venture Exchange. \n\n \n \nON BEHALF OF THE BOARD OF \n\n\n \nAFRICA HYDROCARBONS INC.\n\n \n \nDouglas Wu\n\n\n \nDirector\n\n \n \nFor further information, please telephone: (403) 984-3194.\n\n\n \nNeither 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 News Release. \n\n \n \nThe TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Private Placement and has neither approved nor disapproved the contents of this press release.\n\n \n \nCautionary Note Regarding Forward Looking Statements \n\n\n \nThis press release contains statements which constitute \"forward-looking statements\", including the anticipated use ...