Business
New Zealand Energy Corp. Announces Private Placement for up to C$948,275
New Plymouth, New Zealand--(Newsfile Corp. - October 7, 2024) - New Zealand Energy Corp. (TSXV: N...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Announces Private Placement for up to C$948,275New Plymouth, New Zealand--(Newsfile Corp. - October 7, 2024) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to announce that it intends to complete a non-brokered private placement of common shares of the Company (each a \"Common Share\") at a price of C$0.85 per Common Share for aggregate gross proceeds of a minimum of C$850,000 and up to a maximum of C$948,275 (the \"Offering\").It is anticipated that the net proceeds from the Offering will be used to advance the Company's plans regarding the Tariki field, general and administrative expenses and for general working capital. The closing of the Offering may occur in one or more tranches, the first of which is expected to close on ‎or about 15‎ October 2024. Closing of the Offering is subject to receipt of all regulatory approvals, ‎including approval of the TSX Venture Exchange, and will occur within 45 days from the date hereof‎.There is an offering document related to this Offering dated October 7, 2024, that can be accessed under the Company's profile at www.sedarplus.ca and at https://newzealandenergy.com/. Prospective investors should read this offering document before making an investment decision.Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Offering is being made to purchasers resident in all provinces of Canada (except Quebec) and certain foreign jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the \"Listed Issuer Financing Exemption\"). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws. Shareholders or investors who may wish to participate in the Offering and who seek ‎further details about the Offering should contact the Company's Chief Financial Officer and ‎Corporate Secretary, Ketan Chhima, at [email protected].‎ This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities have not...