New Zealand Energy Corp. (TSXV: NZ) Raises CAD 2.7Mn Through Share Issuance and Debt Settlement

Mon 21 Jul 25, 06:28 AM |

Highlights

NZEC completed a private placement, issuing over 15.1 million shares for CAD 2.72 million in proceeds.
The company settled CAD 300,000 in debt through share issuance and terminated a CAD 2 million loan.
Related parties including directors participated in the financing and debt settlement transactions.

New Zealand Energy Corp. (TSXV: NZ) has closed its previously announced non-brokered private placement of common shares, raising gross proceeds of CAD 2,718,640. The company issued 15,103,556 common shares at CAD 0.18 per share, subject to final approval from the TSX Venture Exchange.

As part of the financing, NZEC also settled outstanding debt totaling CAD 300,000 owed to Charlestown Energy Partners, LLC. This debt was repaid through the issuance of 1,666,667 shares at a deemed price of CAD 0.18 per share. In addition, Charlestown acquired 1,111,111 common shares under the same private placement.

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