News-and-Events
News & Events

New Zealand Energy Announces Closing of $850,000 Private Placement Financing

December 16, 2014

December 16, 2014 - Vancouver, British Columbia - New Zealand Energy Corp. (“NZEC” or the “Company”) (TSX-V: NZ, OTCQX: NZERF), announced today that is has closed the previously announced non-brokered private placement offering of 17,000,000 units at a price of $0.05 per unit, for gross proceeds of $850,000, subject to TSX Venture Exchange final approval.  Each unit consists of one common share and one common share purchase warrant.  Each whole warrant entitles the holder thereof to acquire one common share at a price of $0.07 per share until December 15, 2015. 

All securities issued in connection with the offering are subject to a hold period that expires on April 16, 2015.  The net proceeds from the offering will be used for general working capital.

Geoservices Limited acquired the 17,000,000 units under the private placement, and upon completion of the private placement Geoservices Limited will own or control 17,000,000 common shares or approximately 9.05% of NZEC’s total issued and outstanding common shares, and 17,000,000 common share purchase warrants.  Assuming the exercise of the warrants, Geoservices Limited would own or control 34,000,000 common shares or approximately 16.60% of NZEC’s total issued and outstanding common shares. The purchase of the securities by Geoservices Limited was made for investment purposes.  Geoservices Limited may increase or decrease its investment in NZEC depending on market conditions or any other relevant factors.

On behalf of the Board of Directors

“David Robinson”           

Chief Executive Officer & Director

About New Zealand Energy Corp.

NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC’s property portfolio collectively covers approximately 1.15 million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand’s North Island. The Company’s management team has extensive oil and gas exploration and operations experience in New Zealand. NZEC plans to execute a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing info@newzealandenergy.com.

New Zealand Energy Contacts

David Robinson, Chief Executive Officer   + 6-46-757-4470

Rhylin Bailie, Investor Relations   + 1-604-630-8997

Email: info@newzealandenergy.com

Website: www.newzealandenergy.com

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.

FORWARD-LOOKING INFORMATION

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the word “will”, “will be”, “assuming”, “would”, “may” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, the speculative nature of exploration, appraisal and development of oil and natural gas properties; uncertainties associated with estimating oil and natural gas reserves and resources; uncertainties in both daily and long-term production rates and resulting cash flow; volatility in market prices for oil and natural gas; changes in the cost of operations, including costs of extracting and delivering oil and natural gas to market, that affect potential profitability of oil and natural gas exploration and production; the need to obtain various approvals before exploring and producing oil and natural gas resources; exploration hazards and risks inherent in oil and natural gas exploration; operating hazards and risks inherent in oil and natural gas operations; the Company’s ability to generate sufficient cash flow from production to fund future development activities; market conditions that prevent the Company from raising the funds necessary for exploration and development on acceptable terms or at all; global financial market events that cause significant volatility in commodity prices; unexpected costs or liabilities for environmental matters; competition for, among other things, capital, acquisitions of resources, skilled personnel, and access to equipment and services required for exploration, development and production; changes in exchange rates, laws of New Zealand or laws of Canada affecting foreign trade, taxation and investment; failure to realize the anticipated benefits of acquisitions; and other factors as disclosed in documents released by NZEC as part of its continuous disclosure obligations. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Actual results could differ materially from those anticipated in these forward-looking statements. The forward-looking statements contained in the document are expressly qualified by this cautionary statement. These statements speak only as of the date of this document and the Company does not undertake to update any forward-looking statements that are contained in this document, except in accordance with applicable securities laws.

About New Zealand Energy Corp.

NZEC is a publicly-traded company (TSX-V:NZ) focused on the production and exploration of oil and natural gas prospects in New Zealand.

Investors & Analysts

Join Our Mailing List





Last Updated: 0.01 +0.00 +0% Volume: 2,600 December 6, 2019