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CALGARY, ALBERTA--(Marketwired - May 28, 2014) - CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM", or the "Company"), an emerging oil and gas company with interests in Tunisia and Italy, is pleased to announce it has sold 17,550,000 million common shares of the Company at a price of $0.05 per share for gross proceeds of $877,500 pursuant to a non-brokered private placement. 550,000 common shares were acquired by insiders of the Company. Net proceeds were $842,400 after paying a cash commission of $35,100 to a third party representing 4% of the gross proceeds. All shares issued are subject to a hold period of four months and one day. Upon completion of this closing, there are 131.3 million common shares outstanding. |
