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TAN Tanager Energy

0.05
0.00 (0.00%)
13 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Tanager Energy TSXV:TAN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.045 0.055 0 01:00:00

Tanager Energy Inc. Announces Increase in Private Placement to $600,000

11/06/2014 7:13pm

Marketwired Canada


Mr. John Squarek, President and CEO, of Tanager Energy Inc. ("Tanager" or the
"Company") (TSX VENTURE:TAN) announces that Tanager has increased its previously
announced Private Placement to 7,500,000 units from 6,250,000 units (the
"Units") at a price of $0.08 per Unit (the "Private Placement"). This also
increases the gross proceeds for the Corporation to $600,000 from $500,000. Each
Unit consists of one (1) common share and one (1) common share purchase warrant.
Each warrant entitles its holder thereof to purchase one additional common share
in the capital of Tanager for a period expiring on May 30, 2016, at an exercise
price of $0.15 per common share.


As indicated in a Letter of Intent executed by the Company and Viking
Investments Group, Inc. ("Viking") on May 16th, 2014, Viking intends to
subscribe for 3,125,000 Units for $250,000. In addition, AOD Holdings (USA) Ltd
has indicated it intends to subscribe for 3,125,000 Units for $250,000.


Insiders of the Company may subscribe for in excess of 25% of the aggregate
proceeds of the Offering, constituting a "related party transaction" as defined
under Multilateral Instrument 61-101 - Protection of Minority Security Holders
in Special Transactions ("MI 61-101"). The transaction will be exempt from the
formal valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of any shares issued to or the consideration paid
by such persons will exceed 25% of the Company's market capitalization.


Net proceeds from the Private Placement will be used for acquisition or farm-in
of producing oil and gas properties and for general corporate purposes.


The closing date of the Private Placement which is non-brokered is now scheduled
to close on or before June 30, 2014 and is subject to the normal approvals by
the TSX Venture Exchange.


Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for oil and gas and minerals, with an operations office in Calgary,
Alberta. The Corporation's common shares are listed on the TSX Venture Exchange
under the trading symbol "TAN".


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tanager Energy Inc.
John Squarek, BSc, P. Eng., MBA
President and Chief Executive Officer
403-388-0969
john@tanagerenergy.com

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