SIMBA ENERGY CLOSES PRIVATE PLACEMENT
(Thomson Reuters ONE) -
Simba Energy Inc. / SIMBA ENERGY CLOSES PRIVATE PLACEMENT processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
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TSXV: SMB
Frankfurt: GDA
SIMBA ENERGY CLOSES PRIVATE PLACEMENT
Vancouver, B.C., Canada - June 4, 2010 - Simba Energy Inc. (the "Company") is
pleased to announce that further to its news releases of April 14 and May
17, 2010, it has now closed its private placement. The Company issued a total
of 31,222,357 units at $0.07 per unit for total gross proceeds of $2,185,565.
Each unit consists of one common share and one transferable share purchase
warrant, each warrant exercisable into one additional common share until May
31, 2012, a price of $0.15 per share.
The Company paid/issued the following in finder's fees in respect of the
placement:
(a) Cash payments totaling $19,619;
(b) 280,280 non-transferable share purchase warrants, each warrant
exercisable into one common share of the Company at a price of $0.15 per share
until May 31, 2012;
(c) 1,240,000 non-transferable share purchase warrants, each warrant
exercisable into one common share of the Company at a price of $0.10 per share
until May 31, 2012.
All securities issued under the placement are subject to hold periods expiring
on October 1, 2010.
Proceeds of the placement will be used for general working capital.
"The completion of this private placement is a significant move forward." said
Simba CEO and President Robert Dinning. "The Company once again is showing the
market that with our name change and the refocus that has come with our new
management team in place, Simba Energy is pursuing an aggressive path to
building shareholder value through the execution of our African targeted
strategic focus."
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
www.simbaenergy.ca
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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|| 1130 - 789 West Pender Street, Vancouver BC V6H 1H2 Canada ||
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||Telephone +1 604 641 4450 Fax +1 604 669 9335 Toll Free||
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Simba Energy Inc.
1130-789 West Pender Street Vancouver Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Unternehmensinformation / Kurzprofil:
Datum: 04.06.2010 - 10:00 Uhr
Sprache: Deutsch
News-ID 21967
Anzahl Zeichen: 0
contact information:
Town:
Vancouver
Kategorie:
Business News
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