Prospera Energy Inc. Announces Private Placement| MENAFN.COM

Saturday, 28 January 2023 02:30 GMT

Prospera Energy Inc. Announces Private Placement


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CALGARY, Alberta, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Prospera Energy Inc. PEI: TSX-V; FRA: OF6A; OTC: GXRFF

Prospera Energy Inc. (“Prospera” or the“Corporation”) (PEI: TSX-V; FRA: OF6A; OTC: GXRFF) announced that it has closed a non-brokered private placement of $1,314,000 by the issue of 17,520,000 units, each unit consisting of one common share and a partial warrant (0.875:1 warrant to unit ratio), of up to 15,330,000 warrants, each whole warrant entitling the holder to subscribe for one additional share for $0.09 for 2 years from closing. Proceeds will be used for continuing capital programs, including the optimization of production on all its properties and general working capital.

Prospera has coordinated this private placement to accommodate White Tundra Investments as a lead investor. This placement is subject to approval of the TSX Venture Exchange. White Tundra Investments was not paid any broker fees or warrants on this placement and is expected to be a strategic partner for both engineering support and business development initiatives moving forward.

The Corporation has received a number of other offers of financing, and is reviewing each of the different financing alternatives, to determine which, if any, will meet the needs of the Corporation, with a focus of minimizing dilution.

About Prospera

Prospera is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Prospera will use its experience to develop, acquire and drill assets with potential for primary and secondary recovery.

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