May 11, 2023
Shoal Point Energy Ltd. (CSE - SHP) ), today announced the closing of the Company’s previously announced (March 22, 2023 and April 24, 2023) non-brokered Private Placement. A total of 5,550,000 units were placed for total gross proceeds of $277,500.
Each unit, priced at $0.05 per Unit, consisted of one share and one share purchase warrant. Each full warrant is exercisable at a strike price of $0.06 with an expiry on the second anniversary of the date of closing of the transaction. These proceeds will be used for general working capital.
A finders fee of $5,100 and 102,000 Finders Warrants were paid for a portion of the placement.
For further information, please contact:
Mr. Mark Jarvis, Chief Executive Officer
Tel - 416-637-2181 extension 310
On behalf ofDirectors,
Shoal Point Energy Ltd.
Mark Jarvis, CEO
The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.