VANCOUVER, BC, May 9, 2024
/CNW/ - Canada Energy Partners Inc. (NEX: CE.H) (the
"Company"). The Company intends to complete a
non-brokered private placement of up to 25,000,000 common shares at
an issuance price of $0.01 for gross
proceeds of up to $250,000.00 (the
"Offering"), subject to minimum closing of $150,000.
The net proceeds of the Offering will not be used for payment of
any investor relations activities and will also not be used for
payments to any related parties, other than for reimbursement of
out-of-pocket expenses incurred on behalf of the Company.
The Company intends to pay eligible finders an 8% cash
commission and issue warrants to purchase shares at an exercise
price of $0.05 for a period of 12
months. The company may also increase the cash commission to 10%
for Registered Dealers. The terms of all commissions are subject to
applicable securities laws and approval of the TSX Venture Exchange
("TSXV").
The Company is seeking approval of the TSXV for temporary relief
from the minimum pricing restrictions to issue shares at
$0.01. The closing of the Offering is
subject to approval of the TSXV and all shares issued under the
Offering will be subject to a 4-month hold period in accordance
with applicable securities laws.
About Canada Energy Partners
Ltd.
Canada Energy Partners Ltd. is a Canadian oil and gas focused on
the acquisition of production and exploration oil and gas assets in
the Southern United States. The
Company is currently in due diligence discussions with oil and gas
operators in Texas.
We seek Safe Harbor.
Neither 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
accuracy of this release.
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words or statements that certain events or
conditions "may" or "will" occur, including, without limitation,
estimated revenues. Forward-looking statements in this press
release include statements about the anticipated filing deadline
for the Annual Filings. Forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. These factors include,
without limitation, the failure to file the Annual Filings by the
anticipated date. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The
forward-looking statements contained in this press release are made
as of the date hereof, and the Company undertakes no obligation to
update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
so required by law.
SOURCE Canada Energy Partners Inc.
