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Simba Energy Inc. Announces Closing of Private Placement
Simba Energy Inc. Announces Closing of Private Placement.
About this update from Simba Essel Energy Inc
[{"type":"text","content":"\n \n Normal\n 0\n \n \n \n \n false\n false\n false\n \n EN-CA\n X-NONE\n X-NONE\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n\nSIMBA\nENERGY ANNOUNCES CLOSING OF \nOF PRIVATE PLACEMENT\n\nJuly 31, 2014, Vancouver, British\nColumbia. Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) (the\n“Company”) has increased the size of\nits non-brokered private placement to up to 54,118,009 units (the “Units”) offered at a price of Cdn$0.06\nper Unit to raise gross proceeds of Cdn$3,247,080 (the “Private Placement”). Each\nUnit consists of one (1) common share in the capital of the Company and one (1)\nfull share purchase warrant (a “Warrant”),\nwith each Warrant being exercisable for four years to purchase one additional\ncommon share (a “Warrant Share”) at\na price of Cdn$0.10 per Warrant Share for the first two years and thereafter at\na price Cdn$0.15 per Warrant Share. As announced on July 2, 2014, the Company\nhas already issued 21,988,200 Units to raise gross proceeds of Cdn$1,315,090 in\nthe first Tranche.\n\nThe Company closed the second and final\ntranche of the Private Placement on July 29, 2014.\n\nThe Company plans to use the proceeds of the\nPrivate Placement to fund exploration commitments associated with the\nCompany’s Production Sharing Contracts in Kenya and Guinea, retirement of\ncertain debt, and general working capital purposes.\n\nAbout Simba Energy: Simba Energy Inc. is establishing itself as a\ndiversified international explorer and developer with a growing oil and gas\nacreage position in Africa, with onshore Production Sharing Contracts in Kenya,\nGuinea and Chad.\n\n\nON BEHALF OF THE BOARD\n\n\"Robert Dinning\"\n\n President & CEO\n\nFor further\ninformation, contact: Mark Sommer, [email protected], Toll Free: 1‐ 855‐777‐4622. \n\nNeither the TSX Venture\nExchange nor its Regulation Services Provider (as that term is defined in the\npolicies of the TSX Venture Exchange) accepts responsibility for the adequacy\nor accuracy of this release.\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \...