CALGARY, ALBERTA--(Marketwired - Oct. 16, 2015) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES
Valparaiso Energy Inc. (the "Corporation") (NEX:VPO.H) is pleased to announce that it intends to complete a private placement financing of up to $300,000 through the issuance of units consisting of up to 15,000,000 common shares of the Corporation at a price of $0.02 per share. The common shares will be subject to a four month hold period. Proceeds of the offering will be primarily used for the remediation of an existing natural gas well in Alberta, environmental work on its properties and for general operational expenses. Insiders are expected to subscribe for securities in the private placement transaction. Details of such insider subscriptions will be provided in further news releases regarding the financing. The closing of the offering are subject to any and all required regulatory approvals, including approval of the NEX Board of the TSX Venture Exchange.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Valparaiso Energy Inc., with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Specifically, certain of the transactions referenced herein are subject to regulatory approval, and there can be no guarantee that such approvals will be received, in a timely manner or at all. Actual results and events may vary.
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
(October 16, 2015 - 4:48 PM EDT)
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