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Calgary, Alberta, March 9, 2022 (GLOBE NEWSWIRE) –
(TSXV: PEI) (OTC: GXRFF) (FRA: 0F6A)):
Prospera Energy Inc. (“Prospera” or “Corporation”) Announced two non-mediated private placements to fund the ongoing restructuring process that has moved companies to regulatory compliance, environmentally safe operating conditions, and production optimization. The proceeds from these financings will fund the second phase of the development plan (horizontal well) and will increase the ownership and acquisitions on hand based on the agreement. Financing is subject to further review and approval by the TSX Venture Exchange and is expected to end on or around March 25, 2022.
The first private placement raises a total of up to $ 2,000,000 by providing 8% collateralized convertible bonds whose principal is convertible into our common stock and stock purchase warrants. Applicable interest will be paid in cash or stock at the option of Kosha.
Bond term sheet
|Issuer:||Prospera Energy Inc. ( Ltd).|
|problem:||Corporate bonds with a two-year term and collateral.|
|Conversion price:||At the time of conversion, each bond will be entitled to one common stock and one stock purchase warrant at a price of $ 0.05 in the first year and $ 0.10 in the second year. Each stock purchase warrant acquired through a bond conversion can be exercised into another common stock at a price of $ 0.075 for two years from the initial closing. If Kosha’s shares are traded for $ 0.30 for more than 20 days, Kosha reserves the right to convert. In addition, if shares are traded for $ 0.10 for five consecutive days after the expiration of the four-month holding period, we can reduce the expiration of the warrant to 15 days.|
|Offer amount:||Up to $ 2,000,000 ( Bond offering).|
|Original stock:||PEI on the TSX Venture Exchange (PEI Common stock).|
|Use of revenue:||Kosha plans to use the net proceeds from the corporate bond offering as working capital.|
|interest:||8% annual interest, compounded quarterly. Interest can be paid in cash or stock at the market price at the time, at the discretion of Kosha.|
|Dividend adjustment |
|Conversion prices and warrants are also subject to standard anti-dilution adjustments, especially during stock consolidations, stock splits, spin-off events, rights issues, and reorganizations.|
|Provision criteria:||Non-mediated private placement.|
|Finder price||Kosha may pay a qualified finder a fee of 3% cash and a 3% warrant.|
In the second private placement, Kosha will raise up to $ 2,000,000 by offering Kosha’s units at a price of $ 0.075 per unit (). Unit offering). Each unit consists of one share of our common stock and one share of stock acquisition rights. Each warrant issued through this unit offering gives holders the right to acquire an additional share of the company’s capital at a price of $ 0.10 per share for two years from the date the unit is issued. Kosha reserves the right to shorten the warrant’s expiration date to 15 days if the shares are traded at $ 0.125 for five consecutive business days after the expiration of the four-month holding period.
Through these non-mediated private placements, you can raise a total of up to 4,000,000 CAD. Securities are provided to qualified buyers under the prospectus tax exemption and applicable securities law registration requirements. Finder fees in cash and / or warrants may be paid to eligible finder in connection with this funding. These private placements are provided in jurisdictions where Kosha is legally permitted.
Prospera is a public oil and gas exploration, development and development company focused on traditional oil and gas reservoirs in western Canada. Prospera uses that experience to develop, acquire, and drill assets with potential for primary and secondary recovery.
Description of future prospects
This news release contains forward-looking statements related to our future business and other statements that are not historical facts. Forward-looking statements are often identified by expressions such as “plan”, “potential”, “should”, “expectation”, and “expectation”. All statements other than the historical facts contained in this release include, but are not limited to, statements regarding the company’s plans and objectives, which are forward-looking statements with risks and uncertainties. .. There is no guarantee that such statements will prove accurate and that actual results and future events may differ materially from those expected in such statements.
Prospera believes that the expectations and assumptions underlying the forward-looking statement are reasonable, but Prospera cannot provide any assurance that they are correct, so the forward-looking statement You should not put too much trust in it. Forward-looking statements, by their very nature, carry inherent risks and uncertainties as they correspond to future events and circumstances. Actual results may differ significantly from what is currently expected due to many factors and risks. These include, but are not limited to, risks associated with the general oil and gas industry (eg, operational risks in development, exploration and production, exploration or development projects or capital investment plans). Delays or changes, reserve estimates; uncertainties in estimates and forecasts related to production, costs and costs, health, safety, environmental risks), commodity price and exchange rate fluctuations, and plans for exploration or development projects. Uncertainties or capital expenditures due to potential delays or changes.
Readers should be aware that the assumptions used to create information about the future outlook may turn out to be incorrect. As a result of many known and unknown risks, uncertainties, and other factors, events or circumstances may cause actual results to differ materially from those expected. Many of these factors are beyond the control of Prospera. As a result, Prospera cannot guarantee that the forward-looking statements are materialized, and readers should be careful not to place excessive reliance on forward-looking information. Such information is considered reasonable by management at the time of creation, but may prove inaccurate and actual results may differ materially from expectations. The forward-looking statements contained in this news release are explicitly modified by this notice. Forward-looking statements contained in this news release were made as of the date of this news release and Prospera may be publicly updated or included, whether as a result of new information or not. We undertake no obligation to revise any forward-looking statements. , Future events or otherwise, unless expressly required by Canadian securities law.
Neither TSXV nor its regulatory service provider (the term is defined in TSXV’s policy) is responsible for the validity or accuracy of this release.
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