New Zealand Energy Corp. Closes Private Placement and Shares for Debt Transaction

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[{"type":"text","content":"New Zealand Energy Corp. Closes Private Placement and Shares for Debt TransactionVancouver, British Columbia--(Newsfile Corp. - July 18, 2025) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to announce that, further to its May 12, 2025, June 25, 2025, and July 3, 2025 and July 7, 2025, news releases, it has completed the closing of the previously announced non-brokered private placement (the \"Private Placement\") of common shares of the Company (\"Common Shares\"), subject to final approval of the TSX Venture Exchange. NZEC issued 15,103,556 Common Shares at a price of C$0.18 per Common Share for gross proceeds of ‎‎$2,718,640. ‎In addition, NZEC settled the outstanding indebtedness in the amount of $300,000 owing to Charlestown Energy Partners, LLC (\"Charlestown\") through the issuance of 1,666,667 Common Shares at a deemed price of C$0.18 per Common Share. Charlestown also acquired an additional 1,111,111 Common Shares pursuant to the Private Placement. NZEC also completed the issuance of the 1,000,000 Common Shares at a deemed price of C$0.18 per Common Share to Vliet Financing B.V. (\"Vliet\") in accordance with the agreement to terminate the outstanding loan, as previously announced on May 12, 2025 and June 25, 2025. As previously disclosed and as noted below, the Issuer will also use the proceeds from the Private Placement to pay the cash amount of C$500,000 to Vliet, following which the outstanding loan in the principal amount of C$2,000,000 plus accrued interest will be terminated. All of the Common Shares issued are subject to a hold period that expires on November 19, 2025. The net proceeds from the Private Placement will be used to fund ongoing work on Tariki gas storage project, to terminate the outstanding loan currently held by Vliet in accordance with the agreement previously announced on May 12, 2025 and June 25, 2025, and for general working capital. Robert Bose, a director of the Company, is a principal of Charlestown. Vliet is a company controlled by Frank Jacobs, Chairman and a director of NZEC. In addition, Bill Treuren, a director of NZEC, subscribed for 200,000 Common Shares and Toby Pierce, a director of NZEC, subscribed for 300,000 Common Shares under the Private ‎Placement. The Private Placement, the debt settlement and the termination o...

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