CALGARY, Alberta, June 07, 2018 (GLOBE NEWSWIRE) -- Newton Energy Corporation (the "Company" or "Newton") announces that it plans to complete a non-brokered private placement consisting of up to a maximum of 3,333,333 common shares of Newton ("Common Shares") at a price of $0.15 per Common Share for maximum gross proceeds of $500,000 (the "Offering").
The gross proceeds of the Offering will be used towards general working capital. Completion of the Offering is subject to regulatory approval including the approval of the NEX board of the TSX Venture Exchange Inc. (the "NEX"). The Common Shares issued will be subject to a four month hold period from the date of the closing of the Offering.
For further information, please contact:
Newton Energy Corporation
Gino DeMichele, President & CEO
1600, 333 - 7th Avenue S.W.
Calgary, Alberta T2P 2Z1
Phone: 403-680-7898
Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to use of proceeds and the Company’s ability to obtain necessary approvals from the NEX. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Newton’s disclosure documents on the SEDAR website at www.sedar.com. Newton does not undertake to update any forward-looking information except in accordance with applicable securities laws.