Simba Energy Announces Increase in Private Placement
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Simba Energy Inc. / Simba Energy Announces Increase in Private Placement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
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TSX.V: SMB
Frankfurt: GDA
Simba Energy Announces Increase in Private Placement
May 17, 2010, Vancouver, B.C., Canada - Simba Energy Inc. (the "Company") is
pleased to announce an increase of its non-brokered private placement.
Pursuant to a news release dated April 14, 2010 the Company announced, subject
to the approval of the TSX Venture Exchange, a private placement of up to
14,285,715 units at $0.07 per unit ("Units") for total gross proceeds of up to
$1,000,000. Each Unit consists of one common share and one transferable share
purchase warrant, each warrant exercisable into an additional common share for a
period of two years at a price of $0.15 per share. The private placement has
been increased up to 28 million Units for gross proceeds of $1,960,000. The
Company has received all subscriptions and intends to file and seek approval
from the TSX Venture Exchange immediately.
The proceeds of the placement will be used for general working capital.
Finder's fees may be payable in whole or part on the private placement in
accordance with the policies of the TSX Venture Exchange.
Simba Energy President and CEO Robert Dinning commented, "The Company is pleased
to see the level of market enthusiasm in being a part of this private
placement. With our refocused and aggressive targeted strategy being received
so positively by the market, the new management team at Simba Energy is looking
forward to utilizing our treasury in order to build maximum shareholder value."
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. Statements in this release that are
forward-looking statements, including the amount of the offering and its
completion, are subject to risks and uncertainties, including those specific
factors disclosed under the heading "Risk Factors" and elsewhere in the
company's periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. The company does not assume the
obligation to update any forward-looking statement except in compliance with
applicable securities laws.
About Simba Energy Inc.
Simba Energy, Inc. (TSXV: SMB) (Frankfurt: GDA) is an oil and gas exploration
company focused on hydrocarbon opportunities in Africa. Simba Energy has
already secured a Hydrocarbon Reconnaissance Permit in Liberia which extends
over an area of 1,366 sq. kms and covers the entire onshore extent of the
Robert-Bassa Basin.
The Company's shares are listed on the TSX Venture Exchange under the symbol SMB
as well as the Frankfurt Stock Exchange under the symbol GDA.
On Behalf of the Board,
"Robert Dinning"
President and CEO
For further information, contact Robert Dinning, President and CEO of the
Company at:
rdinning(at)simbaenergy.ca
641-4450 Facsimile: (604) 669-9335
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| 1130 - 789 West Pender Street, Vancouver BC V6H 1H2 Canada|
| Telephone +1 604 641 4450 Fax +1 604 669 9335 Toll Free|
| +1 866 669 9377 www.simbaenergy.ca|
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Simba Energy Inc.
1130-789 West Pender Street Vancouver, British Columbia Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Increase : http://hugin.info/143129/R/1416183/366855.docx
Unternehmensinformation / Kurzprofil:
Datum: 17.05.2010 - 09:01 Uhr
Sprache: Deutsch
News-ID 20959
Anzahl Zeichen: 0
contact information:
Town:
Vancouver, British Columbia
Kategorie:
Business News
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