RSS Feeds   Print News Release  

Molori Announces Private Placement Offering

Vancouver, British Columbia--(Newsfile Corp. - February 16, 2017) - Molori Energy Inc. (TSXV: MOL) ("Molori" or the "Company") is pleased to announce a non-brokered private placement offering (the "Private Placement") of up to 3,000,000 units ("Units") at a price of $0.10 per Unit to raise aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one common share purchase warrant. Each full warrant gives the holder the right to purchase one additional common share of Molori at an exercise price of $0.20 for one year following the closing of the Private Placement. Insiders of the Company is expected to participate in the Private Placement.

Molori has a 25% working interest in in fifty seven (57) oil and gas leases in the bifurcated Texas Panhandle, and the proceeds will be used toward ongoing operational expenses and for general corporate purposes.

About Molori

Molori Energy Inc. is an oil and gas production company with current operations in the Texas Panhandle. Founded in 2011, the experienced management team is aggressively acquiring select properties which provide immediate cash flow and development opportunities, now and in the years ahead. Molori is seizing the opportunity, in the current oil & gas environment, to assemble oil and gas production in nearby and politically safe jurisdictions. Molori is pursuing a business plan, whereby the Company either purchases producing oil and gas assets at highly attractive rates, or in some cases simply takes on existing assets by way of purchasing or assuming default notes from small regional lenders and institutions.

Contact Information:

Joel Dumaresq
CEO and Director
Molori Energy Inc.
(604) 336 3193
joel@molorienergy.com
www.molorienergy.com

NEITHER THE 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 NEW RELEASE.

Cautionary Notes Regarding Forward Looking Statements

This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Newsfile Corp.
@newsfile_corp
3 h
$MOLOF $MOL.CA Molori Hosts Call To Discuss Advances In Core Workover Business And Plans To Drill Red Cave https://t.co/avJWy0Bh7x
Newsfile Corp.
@newsfile_corp
18 May
$MOLOF $MOL.CA Molori Energy Issues Preliminary Q2 Production Results https://t.co/dRmyb50mAn
Newsfile Corp.
@newsfile_corp
15 May
$MOLOF $MOL.CA Molori Announces Closing of Private Placement https://t.co/ld99NahXWt
Copyright 2017 Newsfile Corp. All rights reserved.
Terms and Conditions of Use | Privacy Policy | Anti-Spam Policy | Contact Us