New Plymouth, New Zealand–(October 18, 2024) – New Zealand Energy Corp. (TSXV: NZ) (“NZEC” or the “Company”) is pleased to announce the completion of its non-brokered private placement (the “Offering”) of common shares of the Company. A total of 1,115,617 Common Shares were issued at a price of C$0.85 per Common Share, resulting in gross proceeds of C$948,275.
The net proceeds from the Offering will be utilized to further the Company’s plans for the Tariki field, cover general and administrative expenses, and contribute to general working capital. The issuance of Common Shares under the Offering was conducted under the Listed Issuer Financing Exemption and is not subject to resale restrictions in Canada, in accordance with applicable Canadian securities laws and Exchange policies. Final approval of the Offering is still pending from the Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy securities. The securities issued have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons without proper registration or exemption.
For more information:
Email: info@newzealandenergy.com
Website: www.newzealandenergy.com
Forward-Looking Information: This news release contains forward-looking information regarding the Offering, potential use of proceeds, and the Company’s business and projects. Actual results may differ from anticipated outcomes due to various risks and uncertainties. Readers are advised to refer to NZEC’s disclosure documents for a comprehensive list of risk factors.
Please note that this news release is not intended for distribution to U.S. newswire services or dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227163
SOURCE: New Zealand Energy Corp.
