Doxa Amends Terms of Private Placement
23 Juin 2011 - 3:00PM
Marketwired
Doxa Energy Ltd. (TSX VENTURE: DXA)(OTCQX: DXAEF)(FRANKFURT: 5D0)
("Doxa" or the "Company"), announces that further to its June 13,
2011 press release announcing a non-brokered private placement of
5,714,286 units (each a "Unit") at a price of $0.35 per Unit for
aggregate proceeds of $2,000,000, Doxa has determined to modify the
terms of the Units. Each Unit will be comprised of one common share
and one share purchase warrant. Each share purchase warrant (a
"Warrant") will entitle the holder to acquire one additional common
share for a period of three years at a price of $0.475.
Proceeds of the placement will be used to fund the Company's oil
and gas projects in Texas, and additionally to exercise the
Company's option with Dynamic Production, Inc. to acquire a twenty
percent (20%) share of up to 18,000 gross acres of leasehold in the
emerging Mississippian Oil Play in Northern Oklahoma.
On behalf of the Board of Directors
John D. Harvison, President, Chief Executive Officer
Statements in this press release other than purely historical
information, including statements relating to the Company's future
plans, objectives or expected results, constitute forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to the risks and uncertainties inherent
in the Company's business, including risks inherent in oil and gas
exploration and development, and uncertainties in connection with
anticipated commodity prices for oil and natural gas, growth of
worldwide market demand, exploration capital requirements, length
of asset life and availability of qualified personnel, among others
As a result, actual results may vary materially from those
described in the forward-looking statements.
This new release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company in
the United States. The securities of Doxa have not been registered
under the U.S. Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold in the United
States or to or for the account or benefit of a U.S. person unless
so registered or pursuant to an available exemption from the
registration requirements of such Act or laws.
Neither TSX Venture Exchange nor its Regulation Services
providers (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Doxa Energy Ltd. Scott Parsons Director 604.642.2625
Doxa Energy Ltd. Paul McKenzie Director 604.642.2625 604.642.2629
(FAX) info@doxaenergy.com www.doxaenergy.com
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