NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES.
TORONTO, May 7, 2015 /CNW/ - Adira Energy Ltd. (TSX
Venture Exchange: ADL, OTCBB: ADENF, Frankfurt: 0AM1) ("Adira" or the
"Company"), is pleased to announce that it has closed its
previously announced non-brokered private placement for gross
proceeds of $241,000 (the
"Offering") through the issuance of 4,820,000 units (the
"Units") at a price of $0.05
per Unit. As previously announced, each Unit consists of one
common share in the capital of the Company (the "Common
Shares") and one warrant to purchase Common Shares exercisable
at $0.05 per share for a period of 36
months from the closing of the Offering (the
"Warrants").
The Units issued under the Offering, including the Common Shares
issuable upon the exercise of the Warrants, will all be subject to
a statutory hold period until September 8,
2015.
Adira intends to use the net proceeds from the Offering for
general working capital purposes.
Forward looking statements
This press release includes certain forward-looking
statements within the meaning of Canadian securities laws that are
based on the expectations of the Company as of the date of this
press release. There can be no assurance that such statements will
prove accurate, and actual developments are likely to differ, in
some case materially, from those expressed or implied by the
forward-looking statements contained in this press release.
Forward-looking statements contained in this press release
are based on a number of assumptions that may prove to be
incorrect, including, but not limited to, the terms of the
Offering, the planned use of the proceeds, the receipt of all
regulatory approvals, general market conditions, general economic
conditions, the timing of the closing of the Offering and changes
in the laws, rules and regulations applicable to the Company. In
addition to being subject to a number of assumptions,
forward-looking statements in this press release involve known and
unknown risks, uncertainties and other factors that may cause
actual developments to be materially different from those expressed
or implied by such forward-looking statements. Adira has no
intention, nor obligation, to update the forward-looking statements
contained in this press release. Readers of this press
release are cautioned not to place undue reliance on any such
forward-looking statements.
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.
SOURCE Adira Energy Ltd.