TORONTO, ONTARIO--(Marketwired - Jan. 5, 2015) - EnerGulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT:EKS) ("the Company") is pleased to announce that it intends to complete the non-brokered private placement ("Private Placement") offering of Units of its publically traded securities at the lowered Unit price of C$0.15 (See December 9, 2014 News Release with Unit price of C$0.20), in the total sum of C$500,000. All other details of the offering remain the same as disclosed in the December 9, 2014 News Release. Insiders are anticipated to participate in the Private Placement for more than 25% of the Private Placement. Closing of the proposed Private Placement is anticipated to occur on or about January 9, 2015 and will be conditional upon, among other things, the receipt of all necessary regulatory approvals (including from the TSX Venture Exchange). Net Proceeds from the Private Placement will be used towards the extension of the Contrat De Partage De Production, and Permis d' Exploration, for the Lothsi Block and for general corporate purposes. |