UMBBF UMB.c Umbral Announces Increase To Private Placement Due To Significant Interest
by @thenewswire on August 24, 2017
(TheNewswire)
Vancouver, B.C., August 24, 2017 / TheNewswire / UMBRAL ENERGY CORP. (CSE: UMB) (the “Company” or “Umbral”) is pleased to announce that due to investor demand, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of units to $2,622,000 (the “Offering”).
The Offering will now consist of the sale of up to 43,700,000 units (the “Units”) at a purchase price of $0.06 per Unit with each unit consisting of one common share in the capital of the Company (a “Share”) and one share purchase warrant (a “Warrant”). Each full warrant will entitle the holder to purchase one additional Share for a period of 2 years from the closing date, at a purchase price of $0.10 per Share.
The Offering is expected to close on or about August 28, 2017. Please see the Company’s press release dated July 14, 2017 for further details regarding the Offering.
ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.
“Jag Bal”
Jagdip Bal
President and CEO
The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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