/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH A
U.S. NEWSWIRE SERVICE/
VANCOUVER, April 21, 2017 /CNW/ - Renaissance Oil Corp.
(the "Company") (TSX-V: ROE) is pleased to announce it has closed
its previously announced brokered private placement for 1,000,000
units ("Units") at a price of C$0.25 per Unit, for aggregate gross proceeds of
C$250,000.
Each Unit consists of one common share of the Company and one
common share purchase warrant (a "Warrant"). Each
Warrant entitles the holder thereof to acquire one common share of
the Company at an exercise price of C$0.50 until July 31,
2019. The Warrants were issued pursuant to, and are governed
by, a warrant indenture between the Company and Computershare Trust
Company of Canada. The Company intends to apply to the TSX
Venture Exchange upon expiry of the hold period for the listing of
the Warrants.
The net proceeds of the Offering will be used to aid in the
Company's ongoing efforts in securing oil and gas rights in
Mexico, to fund capital
expenditures and for general corporate purposes.
Pursuant to Canadian securities laws, any securities issued will
be subject to a hold period of four months plus one day from the
date of issuance.
RENAISSANCE OIL CORP.
Per:
Craig Steinke
Chief Executive Officer
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 news release.
The securities offered have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state securities laws, and may
not be offered or sold in the United
States or to, or for the account or benefit of, U.S. persons
(as defined under the U.S. Securities Act) absent registration or
any applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (collectively "forward-looking
statements"). Certain information contained herein constitutes
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"expects", "believes", "aims to", "plans to" or "intends to" or
variations of such words and phrases or statements that certain
actions, events or results "will" occur. Such statements include,
without limitation, statements regarding the excepted listing of
the Warrants and the use of proceeds. Forward-looking
statements are based on the opinions and estimates of management as
of the date such statements are made and they are subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of the Company to be materially different from those expressed by
such forward-looking statements or forward-looking information,
including the business of the Company, the speculative
nature of mineral exploration and development, fluctuating
commodity prices, competitive risks, and delay, inability to
complete a financing or failure to receive regulatory approvals.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and forward
looking information. The Company does not undertake to update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except as required by applicable
securities laws.
SOURCE Renaissance Oil Corp.