Greenfields Petroleum Corporation Completes Non-Brokered Private Placement
HOUSTON, TEXAS--(Marketwired - Jan. 22, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Greenfields Petroleum Corporation ("Greenfields" or the "Company") (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB), is pleased to announce that it has completed a non-brokered private placement of 2,000,000 common shares of the Company ("Common Shares"), at a price of USD$0.90 per Common Share (approximately CDN$1.11 per Common Share based on the Bank of Canada noon exchange rate on January 22, 2015 of $1.00 USD = $1.2371 CDN), for aggregate gross proceeds of USD$1,800,000 (approximately CDN $2,226,780). The Common Shares are subject to a four-month hold period expiring on May 23, 2015.
About Greenfields Petroleum Corporation
Greenfields is a junior oil and natural gas corporation focused on the development and production of proven oil and gas reserves principally in the Republic of Azerbaijan. The Company plans to expand its oil and gas assets through further farm-ins and acquisitions of Production Sharing Agreements from foreign governments containing previously discovered but under-developed international oil and gas fields, also known as "greenfields". More information about the Company may be obtained on the Greenfields website at www.greenfields-petroleum.com.
This press release is not an offer of common shares for sale in the United States. The common shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from such registration. The Company has not registered and will not register the common shares under the U.S. Securities Act of 1933, as amended. The Company does not intend to engage in a public offering of common shares in the United States.
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.
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.