Canoel Announces Private Placement
January 28 2014 - 8:01AM
Access Wire
January 28, 2014 - Calgary, Alberta-
Canoel International Energy Ltd. ("Canoel" or the
"Company") (TSX VENTURE: CIL) is pleased to
announce that it intends to raise proceeds of approximately
$100,000 through a non-brokered private placement of common shares
at $0.25 per share to an insider of the Company. This private
placement is considered to be a related party transaction subject
to TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61-101. Canoel intends to rely on exemptions from the formal
valuation and minority shareholder approval requirements provided
under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101
on the basis that the private placement will not exceed 25% of the
fair market value of the Company's market capitalization. The
transaction remains subject to the approval of the TSX Venture
Exchange.
For further
information, please contact:
Jose Ramon Lopez
Portillo Andrea Cattaneo
Chairman of the Board CEO & President
Email:
info@canoelenergy.com
Telephone: (403) 938-8154
Telefax: (403) 775-4474
This press release is not to be
distributed to U.S. newswire services or for dissemination in the
United States. Any failure to comply with this restriction may
constitute a violation of U.S. securities law.
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