ST. HELIER, JERSEY, April 1, 2015
/CNW/ - EastSiberian Plc (TSXV NEX: ESB.H) ("EastSiberian" or the
"Corporation"), a Jersey company, announces that it intends to
close its previously announced non-brokered private placement of
common shares for aggregate proceeds of up to $1,500,000 at an issue price of $0.05 per common share in two or more
tranches. The first tranche is expected to close on or about
April 6, 2015.
The proceeds from the financing will be used to pay for work
done in respect of initiatives in pursuit of oil and gas
opportunities in Latin America, as
well as for payment of certain accounts payable, professional fees
and general working capital.
The common shares will be issued on a private-placement basis
pursuant to exemptions from applicable Canadian, U.S. and
international securities laws and will be subject to a
four-month-and-one-day hold period from the closing date of the
private placement.
Completion of the private placement is subject to certain
conditions, including the final approval of the NEX board of the
TSX Venture Exchange to the listing of the common shares on the
NEX.
About EastSiberian
EastSiberian is an international junior oil exploration company
incorporated in the Bailiwick of Jersey. For further information,
please visit the EastSiberian Plc website at
www.eastsiberianplc.com. The common shares of the Corporation
are currently listed on the NEX.
As previously announced, the common shares of EastSiberian are
currently halted from trading on the NEX at the request of the
Corporation. The common shares will remain halted until the
Corporation completes a third-party engineering review of the
Nicaraguan oil and gas concessions and releases this to
shareholders.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Advisory Regarding Forward-Looking Statements
This press release contains certain forward-looking
statements and forward-looking information (collectively referred
to as "forward looking statements") within the meaning of Canadian
securities laws. All statements other than statements of historical
fact are forward-looking statements. Forward-looking information
typically contains statements with words such as "anticipate",
"believe", "plan", "continuous", "estimate", "expect", "may",
"will", "project", "should" or similar words suggesting future
outcomes. In particular, this press release include references to
the intention to claim on a private placement financing,
including the timing of the closing the private placement, the
aggregate proceeds to be raised and the use of the net proceeds;
and business plans and strategies.
Undue reliance should not be placed on forward-looking
statements, which are inherently uncertain, are based on estimates
and assumptions, and are subject to known and unknown risks and
uncertainties (both general and specific) that contribute to the
possibility that the future events or circumstances contemplated by
the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which
forward-looking statements are based will in fact be realized and
in particular, that EastSiberian will become a qualified
exploration and exploitation contractor in Nicaragua, successfully conclude negotiations
for concession contracts or engage in exploration activities in
Nicaragua. Actual results
will differ, and the difference may be material and adverse to
EastSiberian and its shareholders.
The forward-looking statements contained in this press
release are made as of the date hereof and EastSiberian does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, except as required by
applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.
SOURCE EastSiberian Plc