Oracle Energy arranges $300,000 private placement

Executive Summary

• Oracle Energy Corp. has arranged a non-brokered private placement financing for aggregate gross proceeds of up to $300,000.
• The financing involves the issuance of units priced at five cents per unit, with proceeds designated for general working capital purposes.
• Each unit consists of one common share and one common share purchase warrant, exercisable at 10 cents for 12 months from the date of issue.

Key Details

• Transaction Structure: Non-brokered private placement.
• Price: Five cents ($0.05) per unit.
• Gross Proceeds: Up to $300,000.
• Units Issued: Up to six million (6,000,000) units.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms: Each full warrant is exercisable at $0.10 per share for a period of 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.
• Regulatory Status: Issuance is contingent upon receipt of exchange approval.

Notable Quotes

• None provided in the text.