/Not for Distribution in the United States or dissemination through a
U.S. newswire service/
VANCOUVER, Feb. 16, 2018 /CNW/ - Renaissance Oil Corp. (the
"Company") (TSX-V: ROE) announces that, further to its February 14, 2018 news release with respect to
the engagement of Haywood Securities Inc. (the "Lead Agent"), on
behalf of a syndicate of agents which includes Beacon Securities
Limited, Paradigm Capital Inc. and Canaccord Genuity Corp.
(together with the Lead Agent, the "Agents"), in respect of a
brokered private placement of units (the "Units") of the Company
(the "Offering"), the Agents have informed the Company that they
have obtained commitments from purchasers for over C$10,000,000. The Agents have been granted an
option (the "Agents' Option") to sell up to an additional 6,000,000
Units at the same price per Unit as the Offering (C$0.25), exercisable in whole or in part at any
time up to 48 hours prior to closing of the Offering, for
additional gross proceeds of up to C$1,500,000.
Each Unit will consist of one common share of the Company and
one common share purchase warrant of the Company (a "Warrant").
Each Warrant will entitle the holder thereof to acquire one common
share of the Company at an exercise price of C$0.50 for a period of 36 months from the date of
issuance.
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.
The Offering is expected to close by March 2, 2018, as originally anticipated, and is
subject to certain conditions, including completion of formal
documentation and receipt of regulatory approval, including the
acceptance of the TSX Venture Exchange.
RENAISSANCE OIL CORP.
Per:
Craig Steinke
Chief Executive Officer
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.
Cautionary Note Regarding Forward-Looking
Statements
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 anticipated closing of
the Offering and the expected use of proceeds from the Offering.
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.
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.
SOURCE Renaissance Oil Corp.