VANCOUVER, BC, Oct. 11,
2022 /CNW/ - Canada Energy Partners Inc. (NEX:
CE.H) (the "Company")
Canada Energy Partners Inc. (NEX: CE.H) (the "Company") is
pleased to announce that it has completed the final closing of its
previously announced private placement of units for gross aggregate
proceeds of $197,000. The units were
issued at $0.05 and consist of a
common share and a share purchase warrant entitling the holder to
acquire an additional common share at an exercise price of
$0.15 for a period of 12 months.
The Company paid finder's fees to eligible arm's length
parties in the aggregate amount of $3,200 representing 8% of the subscriptions
secured by the finders and also issued an aggregate of 64,000
finder's warrants. The securities issued under the final closing of
units are subject to a 4 month hold period in accordance with
applicable securities laws. In connection commission
The Company believes that the strong pricing scenario witnessed
in North American energy markets along with superior infrastructure
and beneficial regulatory environment in Texas makes it a most favored jurisdiction for
investment. The Company continues its work evaluating investment
opportunities in oil and gas projects in Texas with a view to entering into an
acquisition agreement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words or statements that certain events or
conditions "may" or "will" occur, including, without limitation,
estimated revenues. Forward-looking statements in this press
release include statements about the anticipated filing deadline
for the Annual Filings. Forward-looking statements are subject to a
variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those
projected in the forward-looking statements. These factors include,
without limitation, the failure to file the Annual Filings by the
anticipated date. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The
forward-looking statements contained in this press release are made
as of the date hereof, and the Company undertakes no obligation to
update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
so required by law.
SOURCE Canada Energy Partners Inc.