2014-03-07 23:12:11 -
Calgary, Alberta CANADA, March 07, 2014 /FSC/ - Jadela Oil Corp.("Jadela" or "Corporation"), (TSXV: JOC), wishes to announce that announced that it has closed a non-brokered private placement of 6,020,000 units at a price $0.06 per unit for gross proceeds of up to $361,200. Each unit was comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.09 per common share exercisable no later than the earlier of: (a) the date that is two years from the date of issuance of such warrant; or (b) should the volume weighted average closing price of the Corporation's common shares, as traded on the Exchange, exceed $0.15
per common share for more than 10 consecutive trading days following the date that is four (4) months and one (1) day after the closing date, the Corporation may accelerate the warrant exercise period to a date which is twenty (20) calendar days following the date of a press release is issued by the Corporation announcing the reduced warrant exercise period. All of the securities issued under the private placement are subject to a four month resale restriction. The Corporation paid or will pay a finders fee of $30,600 and issue 510,000 finders warrants on the same terms as the unit warrants.
Jadela is a junior oil and gas exploration company.
For further information, please contact:
Gregory J. Leia, President and CEO
Jadela Oil Corp.
Suite 203 - 221 - 10th Avenue SE
Calgary Alberta T2G 0V9
T: (403) 873-8166
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.
To view the press release as a PDF, please click on the following link:
Source: Jadela Oil Corp. (TSX-V: JOC) www.jadelaoil.com/
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