not for distribution in the United States
CALGARY, Alberta, April 13, 2023 (GLOBE NEWSWIRE) — Prospera Energy Inc. PEI: TSX-V; OF6A: FRA, OTC: GXRFF
Prospera Energy announces the first closing of a $3.015 million non-brokered private placement financing CDN with an equity bonus to fund its 2023 Phase 2 capital program that includes SK HZ and AB Directional Drilling, reducing ARO and environmental footprint LMR plan to reduce and upgrade infrastructure to accommodate planned growth. The financing is subject to approval by the TSX Venture Exchange.
loan term sheet
|Issuer:||Prospera Energy Inc. ,Prospera” Or “Corporation”,|
|Issue:||Non-brokered offer (“Proposal“) of units (“units“). Each Unit consists of (i) one thousand common shares of the Corporation (issued upon expiration); and (ii) one 8% 2-Year Promissory Note in the principal amount of $1,000.|
|Duration:||Principal repaid at the end of 2 years|
|Underlying Shares:||The Company’s common shares are listed on the TSX Venture Exchange under the symbol PEI (“common parts”,|
|use of proceeds:||Prospera intends to use the net proceeds of the offering for infrastructure upgrades to accommodate further production growth, well development capital, well abandonment costs, ongoing ESG initiatives and general working capital.|
|Interest:||8% interest per annum, calculated quarterly and paid in cash after the second quarter (interest is compounded in the first quarter).|
|Minimum Investment:||Notes will be issued in denominations of $1,000, subject to a minimum investment of $10,000.|
|Offer Basis:||Non-Broked Private Placement Offer.|
The aggregate amount that can be raised through this non-brokered private placement is up to $5,000,000 CAD. The company remains focused on pursuing minimal dilution financing options and, if fully subscribed, this debt financing would represent equity dilution of just under 2%.
The securities will be offered to qualified purchasers subject to exemptions from the prospectus and registration requirements of applicable securities laws. Eligible explorers may be paid a finder’s fee in cash and/or warrants in connection with this financing. These private placements are offered in jurisdictions where the corporation is legally permitted to do so.
Prospera is a public oil and gas exploration, exploitation and development company focused on conventional oil and gas reservoirs in Western Canada. Prospera will use its experience and knowledge to develop, acquire and drill assets with potential for primary and secondary recovery.
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This news release contains forward-looking statements and other statements relating to the future operations of the Corporation that are not historical facts. Forward-looking statements are often identified by words such as “will,” “may,” “should,” “anticipate,” “expect” and similar expressions. All statements other than statements of historical fact included in this release, including without limitation, statements regarding the Corporation’s future plans and objectives, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results may differ materially from those anticipated in such statements.
Although Prospera believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Prospera can give no assurance that they will prove to be correct. Because forward-looking statements address future events and conditions, they by their very nature involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (for example, operational risks in development, exploration and production; delays or changes in plans in relation to exploration or development projects or capital expenditures reserve estimates; uncertainties of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and potential delays or changes in plans with respect to exploration or development projects Uncertainties arising from or capital expenditure.
The reader is cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Actual results may differ materially from those predicted due to events or circumstances resulting from a number of known and unknown risks, uncertainties and other factors, many of which are beyond Prospera’s control. As a result, Prospera cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although believed by management to be reasonable at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Prospera undertakes no obligation to publicly update or revise any incorporated forward-looking statements, whether as a result of new information future events or otherwise, except as expressly required by Canadian securities law.
Neither TSXV nor its Regulation Services Provider (as that term is defined in TSXV policies) accepts responsibility for the adequacy or accuracy of this release.