Canada Energy Partners to resume July 8

2022-07-06 14:10 MT - Resume Trading

Further to the TSX Venture Exchange bulletins dated March 21, 2022, and the news releases issued by Canada Energy Partners Inc. on June 7, 2022, and July 5, 2022, effective at the opening, Friday, July 8, 2022, the securities of the company will resume trading.

Canada Energy arranges $400,000 private placement

2022-07-05 13:02 ET - News Release

Mr. Grant Hall reports

CANADA ENERGY PARTNERS RESUMPTION TO TRADE ON JULY 8, RAISE ADDITIONAL FUNDS, ISSUES COMPENSATION WARRANTS

Canada Energy Partners Inc. has arranged a non-brokered private placement to raise gross proceeds of up to $400,000 through the issuance of units consisting of common shares and warrants. With the termination of both letters of intent in Gabon, West Africa, the company will now focus on seeking oil and gas opportunities in Texas. The company anticipates that its shares will resume trading on Friday, July 8, 2022, and the pricing of the units will be based on market pricing in accordance with the policies of the TSX Venture Exchange. A further press release will be issued in due course announcing the pricing of the units.

The company's last shareholders meeting was held on July 21, 2020. Upon closing of the proposed private placement of units, the company will commence the process to call a shareholders meeting and anticipates that the meeting will be held in approximately mid-September, 2022.

The company also announces that it today issued 300,000 compensation warrants to Emerging Equities Inc. for corporate advisory services. The compensation warrants are exercisable at 16 cents and expire on Oct. 4, 2024. Emerging will provide the corporate advisory services to the company until June 30, 2024. The company paid Emerging a one-time cash fee of $50,000 in 2021 for the corporate advisory services.

We seek Safe Harbor.