EnerGulf Resources Inc.

News

EnerGulf Announces $300,000 Private Placement

Vancouver, B.C., May 26, 2016 – EnerGulf Resources Inc. (TSX-V: ENG, FSE: EKS) (“EnerGulf” or the “Company”) is pleased to announce its intention to conduct a non-brokered private placement of up to $300,000 consisting of up to 6,000,000 units to be sold at a price of $0.05 per share. Each unit will consist of one common share and one warrant for the purchase of one additional common share of the Company (a “Warrant Share”) exercisable at a price of $0.06 per Warrant Share for a period of 18 months after the date of issuance of the warrant.

The Company may pay finder’s fees equal to 6% of the proceeds paid or issue finder’s warrants equal to 10% of the number of units sold under the private placement.

EnerGulf intends to use the proceeds of the private placement for general corporate purposes and for potential oil and gas acquisition opportunities. The private placement is subject to acceptance by the TSX Venture Exchange.

Jeff Greenblum

Jeff Greenblum
Chairman

For additional information, please contact:

EnerGulf Resources Inc.
Jonathan Buick
The Buick Group
416-915-0915
jbuick@buickgroup.com

 

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

This release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). In particular, and without limitation this news release contains forward-looking statements respecting the company’s intention to conduct a private placement; the intended use of proceeds raised from the private placement; the future prospects for the company; management’s beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: ability to complete the private placement on the terms outlined in the news release; changes in the business or prospects of the company; unforeseen circumstances; general business and economic conditions; and ongoing relations with employees, consultants, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.

 
 
- EnerGulf Resources Inc.