Business
New Zealand Energy Corp. Provides Private Placement Update
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2024) - New Zealand Energy Corp. (...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Provides Private Placement UpdateVancouver, British Columbia--(Newsfile Corp. - April 11, 2024) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to announce that, further to its 22 March 2024 and 8 April 2024 news releases, it has increased the size of its non-brokered private placement offering (the \"Private Placement\") of common shares of the Company (\"Common Shares\") from $4,500,000 to $5,000,000, subject to approval of the TSX Venture Exchange (the ‎‎\"TSXV\")‎.Charlestown Energy Partners, LLC (\"Charlestown Energy\") and certain designees, intend to subscribe for 2,000,000 Common Shares pursuant to the Private Placement. Charlestown Energy is a private investment vehicle associated with a family office in New York that has been making investments globally in energy since 2016. The Board of Directors of the Company intends to appoint Mr. Robert Bose, the Managing Member of Charlestown Energy, as a director of NZEC upon the closing of Charlestown's investment pursuant to the Private Placement, subject to approval of the TSXV. Mr. Bose is the Chief Executive Officer and a member of the board of Sintana Energy Inc., a public oil and natural gas exploration company with a portfolio of interests in Namibia that is listed on the TSXV under the trading symbol \"SEI\". Mr. Bose is also a member of the board of Black Bayou Energy Hub, the developer of an underground, salt dome-based gas storage facility located in Cameron Parish, Louisiana. Mr. Bose brings a deep understanding of energy and capital markets which will be of great assistance as the Company implements its plans including initially for the Tariki gas production and storage project.The Company is no longer accepting any additional subscriptions under the Private Placement. The Company has not yet completed a closing under the Private Placement and the issuance of the ‎Common Shares to the investors, including Charlestown, is subject to final approval of the TSXV. On behalf of the Board of DirectorsNew 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 accu...