Prospera Energy Inc. Announces Private Placement
January 25 2023 - 1:00AM
Prospera Energy Inc.
PEI: TSX-V; FRA: OF6A; OTC:
GXRFF
Prospera Energy Inc. (“Prospera” or the
“Corporation”) (PEI: TSX-V; FRA: OF6A; OTC: GXRFF) announced that
it has closed a non-brokered private placement of $1,314,000 by the
issue of 17,520,000 units, each unit consisting of one common share
and a partial warrant (0.875:1 warrant to unit ratio), of up to
15,330,000 warrants, each whole warrant entitling the holder to
subscribe for one additional share for $0.09 for 2 years from
closing. Proceeds will be used for continuing capital programs,
including the optimization of production on all its properties and
general working capital.
Prospera has coordinated this private placement
to accommodate White Tundra Investments as a lead investor. This
placement is subject to approval of the TSX Venture Exchange. White
Tundra Investments was not paid any broker fees or warrants on this
placement and is expected to be a strategic partner for both
engineering support and business development initiatives moving
forward.
The Corporation has received a number of other
offers of financing, and is reviewing each of the different
financing alternatives, to determine which, if any, will meet the
needs of the Corporation, with a focus of minimizing dilution.
About Prospera
Prospera is a public oil and gas exploration,
exploitation and development company focusing on conventional oil
and gas reservoirs in Western Canada. Prospera will use its
experience to develop, acquire and drill assets with potential for
primary and secondary recovery.
For further information:
Shawn Mehler, PR Email:
shawn@prosperaenergy.comWebsite: www.prosperaenergy.com
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements relating to the future operations of the Corporation and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as “will”, “may”,
“should”, “anticipate”, “expects” and similar expressions. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
future plans and objectives of the Corporation, are forward looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
Although Prospera believes that the expectations
and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the
forward-looking statements because Prospera can give no assurance
that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, risks associated with the oil and gas industry in
general (e.g., operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses, and health, safety and
environmental risks), commodity price and exchange rate
fluctuations and uncertainties resulting from potential delays or
changes in plans with respect to exploration or development
projects or capital expenditures.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Prospera. As a result, Prospera
cannot guarantee that any forward-looking statement will
materialize and the reader is cautioned not to place undue reliance
on any forward- looking information. Such information, although
considered reasonable by management at the time of preparation, may
prove to be incorrect and actual results may differ materially from
those anticipated. Forward-looking statements contained in this
news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release are
made as of the date of this news release, and Prospera does not
undertake any obligation to update publicly or to revise any of the
included forward- looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by Canadian securities law.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
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