VANCOUVER, Dec. 4, 2017 /CNW/ - Vancouver, BC – Renaissance Oil Corp. (the
"Company") (TSX-V: ROE) is pleased to announce it has
completed its non-brokered private placement of 4 million units
with certain members of its technical team, at a price of
C$0.25 per unit for aggregate gross
proceeds of C$1 million (the
"Offering"). Each unit comprises one common share of the
Company (a "Share") and one Share purchase warrant (a
"Warrant"), each Warrant exercisable to acquire one
additional Share of the Company at a price of C$0.50 until December 4,
2022.
The proceeds, from the Offering, will be used to develop the
Company properties in Mexico and
for general corporate purposes.
All securities issued, pursuant to the Offering, will be subject
to a hold period expiring on April 5,
2018.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
mentioned in this press release have not been registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold within
the United States except in
certain transactions exempt from the registration requirements of
the U.S. Securities Act.
RENAISSANCE OIL CORP.
Per:
Craig Steinke
Chief Executive Officer
Cautionary Note Regarding Forward-Looking
Statements
This news release contains certain
"forward-looking statements" within the meaning of Canadian
securities legislation, including, without limitation, statements
with respect to the anticipated use of proceeds from the Offering.
Forward-looking statements are statements that are not historical
facts which address events, results, outcomes or developments that
the Company expects to occur; they are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release and the Company's annual and quarterly management's
discussion and analysis filed at www.sedar.com. Except as required
by the securities disclosure laws and regulations applicable to the
Company, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Renaissance Oil Corp.