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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (6947)	6/9/2014 4:07:15 PM
From: Goose94	Read Replies (1) \| Respond to of 203421

Simba Energy (SMB-V) June 9, '14 has arranged a non-brokered private placement for gross proceeds of up to $3-million. The company is to issue up to 50 million units at a price of six cents per unit, with each unit consisting of one common share in the capital of the corporation and one full share purchase warrant. Each warrant is exercisable for four years to purchase one additional common share at a price of 10 cents during the first two-year period, or at a price 15 cents for the next two-year period. A hold period of four months and one day from date of issue will apply to all securities issued pursuant to the private placement. Net proceeds from the private placement will be used toward financing and exploration commitments associated with the company's production-sharing contracts in Kenya, retirement of certain debt, and general working capital purposes. The offering is available to residents of Canada, the United States and the United Kingdom pursuant to available prospectus and registration exemptions. A finder's fee of 7 per cent cash and 7 per cent share purchase warrants will be paid and issued in respect of a portion of the gross proceeds raised from the private placement. Each finder's warrant will entitle the finder to purchase one common share of the company at a price of 10 cents for a period of two years from closing.