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Return Energy Announces Close of $5 Million Private Placement
Return Energy Announces Close of $5 Million Private Placement Canada NewsWire CA...
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[{"type":"text","content":"\n\n\n\nReturn Energy Announces Close of $5 Million Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 27, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n\n\n\nCALGARY, Dec. 27, 2017 /CNW/ - Return Energy Inc. (\"Return\" or the \"Company\") (TSX-V: \"RTN\") is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Unit Offering\") of 66,666,666 units of the Company (\"Units\") at a price of $0.075 per Unit for aggregate gross proceeds of $4,999,999.95 with Vertex Managed Value Portfolio (\"VMVP\"), a fund managed by Vertex One Asset Management Inc. (\"Vertex\").  Additionally, the Company has issued 1,460,689 common shares (\"FT Shares\") on a flow-through basis at a price of $0.10 per FT Share for aggregate gross proceeds of $146,068.90 pursuant to its previously announced non-brokered private placement of Canadian exploration expense flow-through shares (the \"FT Offering\" and together with the Unit Offering, the \"Offerings\").  \n\nThe proceeds of the Offerings will be used by Return to further its development activities in the Rycroft, Gordondale and Valhalla areas of Alberta. The completion of the Offerings is subject to the Company receiving all necessary regulatory approvals, including final approval from the TSX Venture Exchange (the \"TSXV\"). All securities issued under the Offerings, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. \n\nUnit Offering\n\nFurther to the Company's news release dated December 27, 2017, the shareholders of the Company approved an ordinary resolution authorizing the Unit Offering and the creation of VMVP as a \"control person\" of the Company, as such term is defined by the policies of the TSXV.   \n\nUpon completion of the Unit Offering, VMVP acquired ownership of 66,666,666 Units.&#x...