Oracle Energy gets conditional OK for $300K financing

Executive Summary

• Oracle Energy Corp. received conditional approval from the TSX Venture Exchange for a non-brokered private placement with aggregate gross proceeds of up to $300,000.
• The company is closing the first tranche of the financing, raising $75,000 by issuing 1.5 million units.
• Proceeds are designated for general working capital purposes, and all securities carry a four-month hold period.

Key Details

• Transaction Type: Non-brokered private placement financing.
• Total Capacity: Aggregate gross proceeds of up to $300,000.
• First Tranche Details:
  • Amount: $75,000.
  • Units Issued: 1.5 million units.
  • Price Per Unit: $0.05 (five-cent unit).
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.10 (10 cents).
  • Duration: 12 months from the date of issue.
• Use of Proceeds: General working capital purposes.
• Hold Period: All securities issued are subject to a four-month hold period.
• Finder's Fees: The company may pay finders' fees in cash and warrants in accordance with exchange policies.

Notable Quotes

• None provided in the text.