VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 26, 2016) – Karsten Energy Corp. (TSX VENTURE:KAY) (“Karsten” or the “Company“) is pleased to announce that it intends to carry out a non-brokered private placement of 1,200,000 Units for gross proceeds of $120,000.
Each Unit shall consist of one common share of the Company and one transferable share purchase warrant entitling the holder to purchase one additional common share of the Company at $0.10 per share until November 18, 2019.
The proceeds from the private placement will used for working capital purposes. No finder’s fee is payable in connection with the proposed private placement.
The completion of the private placement is subject to the approval of the TSX Venture Exchange.
Certain insiders of the Company may participate.
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.
Murray Oliver
President and Chief Executive Officer
604-329 3139
mjo@pemcorp.com