VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2014) - Opal Energy Corp. ("Opal" or the "Company") (TSX VENTURE:OPA.H) announces that it has closed a private placement of 6,599,998 units for gross proceeds of $396,000 (the "Offering"). Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share of Opal at a price of $0.12 for a period of 12 months from closing. Proceeds of the Offering will be used to reduce corporate debt and to finance the Company's ongoing review of prospective projects in the resource sector. The shares and warrants issued under the Offering are subject to a four month hold period which expires January 17, 2015. The Offering has received final NEX approval.
Opal Energy Corp.
Opal Energy Corp. is an independent oil and gas exploration and production company based in Vancouver, B.C.
On behalf of the Board of Directors
Opal Energy Corp.
David Hughes
CFO and Director
Neither the NEX or 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.