2013-09-27 23:09:15 -
Calgary, Alberta CANADA, September 27, 2013 /FSC/ - Jadela Oil Corp. (JOC - TSX Venture), ("Jadela" or the "Corporation") wishes to announce a proposed non-brokered private placement of up to 4,000,000 units at a price $0.05 per unit for gross proceeds of up to $200,000. Each unit will be comprised of one common share in the capital of Jadela and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.10 per common share exercisable no later than the date that is two years from the date of issuance of such warrant provided, however, that should the volume weighted average closing price of the Corporation's common shares, as traded on
the TSX Venture 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 date of issuance of a warrant, the Corporation may accelerate the warrant exercise period to a date which is 20 calendar days following the date a press release is issued by the Corporation announcing the reduced warrant exercise period. All of the securities issued under the private placement will be subject to a four month resale restriction and will contain a legend which will detail the resale restriction. There is no minimum subscription under the private placement and Jadela may close the offering in several tranches, however, the private placement must be concluded by November 10, 2013.
In connection with this private placement, Jadela will pay cash finder's fees equal to 10% of the funds raised to eligible finders who introduce subscribers to the private placement and issue one finder's fee warrant for every 10 units issued to such subscribers. Each finder's fee warrant will be issued to finders on the same terms as the warrants comprising the units. The offering is subject to approval from the TSX Venture Exchange.
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
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is 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. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and completion of Jadela's proposed private placement and related information. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations and assumptions made by Jadela. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in the prices of oil and natural gas; governmental regulation of the oil and gas industry, including environmental regulation; unanticipated operating events or performance which can reduce production or cause production to be shut in or delayed; failure to obtain industry partner and other third party consents and approvals, if and when required; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the oil and gas industry; failure to realize the anticipated benefits of acquisitions and dispositions; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to "U.S. persons" (as such term is defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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 this press release as a PDF file, click onto the following link:
Source: Jadela Oil Corp. (TSX-V: JOC) www.jadelaoil.com/
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