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UNITED STATES/
VANCOUVER, BC, Jan. 31,
2022 /CNW/ - Canada Energy Partners
Inc. (NEX: CE.H) (the "Corporation") today
announced that it has completed the previously announced
non-brokered private placement of units ("Units") for gross
aggregate proceeds of $404,200. Each
Unit consists of a common share at an issuance price of
$0.08 and a non-transferrable share
purchase warrant ("Warrant") entitling the holder to purchase an
additional common share at a purchase price of $0.12 for a period of 12 months.
In connection with the private placement, the Corporation paid
an 8% commission to certain arm's length parties consisting of a
cash payment in the aggregate amount of $28,336 and the issuance of an aggregate of
309,200 finder's Warrants.
All common shares and Warrants issued under the private
placement to the investors and the finders are subject to a 4 month
hold period in accordance with applicable securities laws.
Completion of the private placement is subject to final approval of
the TSX Venture Exchange.
On behalf of the Board of Directors of
Canada Energy Partners Inc.
Grant
Hall
President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Canada Energy Partners Inc.