Azabache Announces Closing of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Azabache Energy Inc. (TSX VENTURE:AZA) ("Azabache" or the "Company") announces
that it has closed the first tranche of its previously announced non-brokered
private placement (the "Private Placement"). Azabache has sold 26,023,064 units
of the Company ("Units") at a price of $0.13 per Unit for gross proceeds of
$3,382,998.32. Each Unit consists of one common share in the capital of the
Company ("Common Share") and one-half share purchase warrant of the Company
(each whole, a "Warrant"), with each whole Warrant entitling the holder to
purchase one Common Share at a price of $0.18 per share for 24 months from the
closing date of the Private Placement. All securities issued pursuant to the
Private Placement will be subject to a four month hold period expiring on April
24, 2013. 


In connection with the Private Placement, the Company paid a finder's fee to
eligible persons in accordance with applicable securities laws, consisting of
$87,722.91 in cash. 


The net proceeds of the Private Placement will be used to fund the Company's
Vaca Muerta Project, as well as for general working capital and general
corporate purposes. 


For further information on Azabache Energy please visit the Company's website at
www.azaenergy.com.


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.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any state in
which such offer, solicitation or sale would be unlawful. The securities have
not been registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. This press release contains
forward-looking statements. More particularly, this press release contains
statements concerning the expected use of proceeds of the Private Placement. The
forward-looking statements contained in this document are based on certain key
expectations and assumptions made by Azabache, including with respect to the
expected future operations. Although Azabache believes that the expectations and
assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements because
Azabache can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the failure to obtain
necessary regulatory approvals, risks associated with the oil and gas industry
in general (e.g., operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), commodity price and exchange rate
fluctuations. The forward-looking statements contained in this document are made
as of the date hereof and Azabache undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azabache Energy Inc.
Claudio Larotonda
President & CEO
+54.11.4893.4004
clarotonda@azaenergy.com


Azabache Energy Inc.
Glenn Van Doorne
Chairman
+403.966.8739
gvandoorne@azaenergy.com
www.azaenergy.com
Azabache Energy Inc. (TSXV:AZA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024