|Fri Apr 26, 2013|
Oracle Energy Completes Tranche 2 of Private Placement
|April 26, 2013 - Oracle Energy Corp. ("Oracle") (OCL-TSX.V)(O2E-Frankfurt) announces that further to a news release of December 3, 2012, the Company has completed tranche two of a non-brokered private placement (the "Offering") of 2,340,000 units of the Company (the "Units") at $0.125 per Unit. Each Unit consists of one common share in the capital of the Company and one-half of one share purchase warrant of the Company (each, a "Warrant"). Each whole Warrant is exercisable into one common share in the capital of the Company (each, a "Warrant Share") at an exercise price of $0.20 per Warrant Share for a period of 24 months from the closing date of the Offering (the "Closing Date"). |
The shares issued and any shares issued upon the exercise of warrants from this private placement have a hold period from trading until August 11, 2013.
Finders' fees were paid to Jennings Capital Inc. as follows;
1. $15,250 was paid in cash and 122,000 agents warrants exercisable on the same terms as the private placement.
ON BEHALF OF THE BOARD
Nasim Tyab, Chairman and CEO
Oracle Energy Corp.
Neither 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.