/NOT FOR DISSEMINATION IN THE UNITED
STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF UNITED
STATES SECURITIES LAW./
CALGARY, April 7, 2017 /CNW/ - Return Energy Inc.
("Return" or the "Company") (TSX-V: "RTN") announces
that no additional closings of its previously announced private
placement (the "Offering") will be undertaken. A total
of $2.1 million was raised under the
Offering. Please refer to the Company's news release of
March 14, 2017 for particulars.
In connection with the closing of the Offering, the Corporation
paid finders' fees to eligible parties. Finders acting in
connection with the closing of the Offering received cash payments
in the aggregate amount of $22,027.20
together with 183,560 finders' warrants (the "Finder
Warrants"). Each Finder Warrant is exercisable by the holder
to purchase one common share in the capital of the Company (a
"Common Share") at a price of $0.15 ("Warrant Exercise Price") 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, being March 13, 2018; 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 Exercise Price by at least 200% for a minimum
of 10 consecutive trading days (whether or not trading of Common
Shares occurs on all such days, provided that the Common Shares
trade on at least five of such trading days).
The completion of the Offering is subject to the Company
receiving all necessary regulatory approvals, including final
approval from the TSX Venture Exchange.
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.
SOURCE Return Energy Inc
