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New Zealand Energy Corp Announces 2023 Third Quarter Results
Wellington, New Zealand--(Newsfile Corp. - November 28, 2023) - New Zealand Energy Corp. (TS...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp Announces 2023 Third Quarter ResultsWellington, New Zealand--(Newsfile Corp. - November 28, 2023) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") announced today that it has filed with Canadian regulatory authorities its 2023 third quarter consolidated interim financial statements and corresponding management's discussion and analysis, which documents are available on the Company's website at www.newzealandenergy.com and on SEDAR+ at www.sedarplus.ca.Commenting on the Company's 2023 third quarter results, Chairman James Willis said, \"The results saw a total comprehensive loss of $1,777,059. (2022: loss of $384,962). There was a $428,555 decrease in cash held ($92,007 was held at the end of the quarter). Cash used in operating activities for the quarter was $369,052 (2022: provided $611,940).\"As announced on 23 November 2023, NZEC expects to complete a closing of an initial tranche of its non-brokered ‎private placement offering of 6,000,000 common shares of the Company at $0.38 (the \"Private Placement\") in the next few weeks, subject to final approval of the TSX Venture Exchange. The Private Placement has been well supported by investors.Mr. Willis commented: \"The oversubscribed Private Placement signifies the confidence that our investors have in the Company. NZEC is now firmly focused on preparations for the drilling of the Tariki-5 well at the Tariki Field.\"On behalf of the Board of Directors\"James Willis\"Chairman New Zealand Energy Corp.New Zealand Energy ContactsEmail: [email protected]: www.newzealandenergy.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.FORWARD-LOOKING INFORMATION: This news release contains \"forward-looking information\" within the meaning of applicable Canadian ‎securities legislation. All statements, other than statements of historical fact, included herein are forward-‎looking information. In particular, this news release contains forward-looking information regarding: the ‎proposed Private Placement, the potential use of proceeds of the Private Placement and the closing date ‎for the Private Placement. There can be no assurance that s...