Shoal Point Energy Announces Non Brokered Private Placement
September 24 2013 - 3:59PM
OTC Markets
Shoal Point Energy Announces Non Brokered Private Placement
Shoal Point Energy Announces Non Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 24, 2013) -
Shoal Point Energy Corp. (CNSX:SHP)(OTCQX:SHPNF) today announced a
non-brokered Private Placement of up to 60 million Units at a price
of $0.05 per unit for gross proceeds of up to $3 million. Each unit
will consist of one share and one share purchase warrant. Each
warrant is exercisable at a strike price of $0.06 with an expiry on
the second anniversary of the date of closing of the
transaction.
Proceeds of the private placement will be used for general
working capital.
The Company also announced a non-brokered private placement of
up to 3 million flow-thru units at a price of $0.05 per unit for
gross proceeds of up to $150,000.00. Each unit will consist of one
flow-thru share and one-half of a share purchase warrant. Each full
warrant is exercisable at a strike price of $0.06 with an expiry on
the second anniversary of the date of closing of the
transaction.
Proceeds of the flow-thru private placement will be used for
Qualifying Canadian Exploration Expenses.
The private placement is subject to regulatory acceptance and
approval.
On behalf of the Board of Directors,
Mark Jarvis, CEO
Shoal Point Energy Corp.
Shoal Point Energy (PK) (USOTC:SHPNF)
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