On October 7, 2024, New Zealand Energy Corp. (TSXV: NZ), also known as NZEC, announced its intention to conduct a non-brokered private placement of common shares at a price of C$0.85 per share. The offering aims to generate gross proceeds ranging from C$850,000 to C$948,275.
The company plans to utilize the net proceeds from the offering to support its initiatives related to the Tariki field, cover general and administrative expenses, and provide working capital. The closing of the offering is expected to take place in multiple tranches, with the first closure anticipated around October 15, 2024, subject to regulatory approvals, including clearance from the TSX Venture Exchange, within 45 days.
Interested investors can access the offering document dated October 7, 2024, on the company’s profile page at www.sedarplus.ca and https://newzealandenergy.com/. The offering is targeted at buyers residing in Canadian provinces (excluding Quebec) and certain foreign jurisdictions under the Listed Issuer Financing Exemption of National Instrument 45-106. The securities offered under this exemption will not be subjected to a hold period.
For further details or to participate in the offering, shareholders and investors can contact the company’s Chief Financial Officer and Corporate Secretary, Ketan Chhima, at kchhima@newzealandenergy.com. This news release is not an offer to sell securities and does not constitute solicitation or sale of securities in jurisdictions where it is unlawful.
Forward-looking information included in this release outlines the company’s plans, objectives, and business activities, but there is no guarantee that such information will be accurate. Investors are advised to review the associated risks and factors before making any investment decisions. The company disclaims any obligation to update or revise forward-looking information, except as required by applicable securities laws.
