Huntington Announces Proposed Private Placement of Units

CALGARY, Alberta, July 18, 2019 (GLOBE NEWSWIRE) — Huntington Exploration Inc. (“HEI” or the “Company”) (TSX VENTURE: HEI) announced today that it intends to complete a non-brokered private placement offering of units (“Units”) at a price of $0.05 per Unit, for gross proceeds of up to $500,000 (the “Private ‎Placement”).‎ Each Unit will consist of one common share and one transferable common share purchase ‎warrant, with each warrant entitling the holder thereof to purchase one additional common share at a price of $0.05 per share for a period of two years from closing.‎

The closing of the Private Placement is expected to occur on or about July 31, 2019 and is subject to regulatory approval, ‎including approval of the TSX Venture Exchange. For further details on the Private Placement, please contact the ‎Company. All securities issued in connection with the Private Placement will be subject to a hold period of four months ‎from the date of closing. The Company intends to use the proceeds from the Private Placement for general and administrative expenses, to replenish working capital, to evaluate strategic alternatives and ‎for general corporate purposes.‎

HEI is an exploration-focused corporation actively pursuing opportunities in the oil and natural gas business in the Western Canada sedimentary basin.

On behalf of the Board of Directors:

Bob Verhelst
President and CEO

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 release.

Forward Looking Statements

This press release contains certain statements which constitute forward-looking statements or information (“forward-‎looking statements”), including statements regarding HEI’s business and the proposed Private ‎Placement. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond ‎HEI’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, ‎currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and ‎development, competition from other industry participants, the lack of availability of qualified personnel or management, ‎stock market volatility and the ability to access sufficient capital from internal and external sources. Although HEI believes ‎that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions ‎concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently ‎available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could ‎influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or ‎implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward ‎looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-‎looking statements contained in this document are made as of the date of this document and, except as required by ‎applicable law, HEI does not undertake any obligation to publicly update or to revise any of the included forward-looking ‎statements, whether as a result of new information, future events or otherwise. The forward-looking statements ‎contained in this document are expressly qualified by this cautionary statement.‎

Huntington Exploration Inc.
Bob Verhelst
T. 587-351-3538

Comments are closed.

Free newsletter for stock pics, interview transcripts & investing ideas