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CALGARY, ALBERTA--(Marketwired - June 23, 2016) - Veraz Petroleum Ltd. ("Veraz" or the "Company") (NEX:VRZ.H) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of units ("Units") of the Company. The Company issued an aggregate of 9,850,000 Units in the Private Placement at a price of $0.05 per Unit for aggregate gross proceeds of $492,500, inclusive of 7,410,000 Units (aggregate gross proceeds of $370,500) issued today in the final tranche of the Private Placement. The Company paid a cash finder's fee of $25,935 and issued 518,700 broker warrants ("Broker Warrants") related to subscriptions for 7,410,000 Units in the final tranche of the Private Placement. |
