Simba Essel Energy Inc SMBZF

News

[newbie880]

 

Mr. Robert Dinning reports

PRIVATE PLACEMENT ANNOUNCEMENT

Simba Energy Inc. has arranged, subject to the approval of the TSX Venture Exchange, a private placement of up to 25 million units at eight cents per unit for a total gross proceeds of up to $2-million. Each unit consists of one common share and one-half of a transferable share purchase warrant, each warrant exercisable into one additional common share for one year from the date of issue at a price of 16 cents per share. The proceeds of the private placement will be used for general working capital.