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Return Energy Announces Private Placement
Return Energy Announces Private Placement Canada NewsWire CALGARY, Feb. 22, 2017...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nReturn Energy Announces 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, Feb. 22, 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, Feb. 22, 2017 /CNW/ - Return Energy Inc. (\"Return\" or the \"Company\") (TSX-V: \"RTN\") is pleased to announce that it intends to complete a non-brokered private placement comprised of common share units (the \"Units\"), Canadian development expense flow-through shares (\"CDE FTS\"), and Canadian exploration expense flow-through shares (\"CEE FTS\") (collectively, the \"Offering\").\n\nReturn intends to issue up to 25,000,000 Units at a price of $0.12 per Unit ($3,000,000), 23,077,000 CDE FTS at a price of $0.13 per CDE FTS ($3,000,010), and 7,142,900 CEE FTS at a price of $0.14 per CEE FTS ($1,000,006) in the capital of the Company for total gross proceeds of up to $7,000,016.  The CDE FTS and CEE FTS will be issued pursuant to the Income Tax Act (Canada) in respect of Canadian development expenses and Canadian exploration expenses, respectively.\n\nEach Unit will consist of one Return common share (\"Common Share\") and one full Common Share purchase warrant (\"Warrant\").  Each whole Warrant is exercisable by the holder to purchase one Common Share for a period of 12 months from the Closing Date (\"Warrant Exercise Period\") at a price of $0.15 (\"Warrant Exercise Price\").  The Warrants are subject to an Accelerated Warrant Expiry (defined below).\n\nEach Warrant will entitle the holder thereof to purchase one Common Share at any time prior to 5:00 p.m. (Calgary Time) on or before the earlier of the date that is: (a) one year from the completion of the Offering; and (b) 30 days after the giving of notice of early termination by Return. Such notice may be given by the Company, in its sole discretion, if the volume-weighted average price of the Common Shares on the TSX Venture Exchange exceeds the Warrant Exerc...