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CALGARY, ALBERTA--(Marketwire - Sept. 20, 2011) - Jadela Oil Corp. ("Jadela" or the "Company") (TSX VENTURE:JOC) is pleased to announce that, pursuant to its previously announced private placement of units (each, a "Unit"), Jadela has issued an additional 880,000 Units at a price $1.00 per Unit for gross proceeds of $880,000. Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at any time within two years of the date of issuance at a price of $1.50 per Common Share. In connection with the completion of this tranche of the private placement, Jadela paid aggregate cash finder's fees in the amount of $24,480 and issued an aggregate of 30,600 warrants to eligible finders who introduced subscribers to the private placement. Each such finder's warrant was issued on the same terms as the warrants comprising the Units. All of the securities issued under the private placement are subject to a four month resale restriction. In aggregate, Jadela raised gross proceeds of $3,385,500 under the private placement by issuing 3,385,500 Units at a price $1.00 per Unit. |
