SASKATOON, SASKATCHEWAN–(Marketwired – July 13, 2017) – Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to announce that it has acquired a section of land near Flaxcombe, Saskatchewan from a Freehold land owner.
This acquisition brings Saturn’s total land package in the Flaxcombe area to five sections with working interest.
Additionally, the Company is pleased to announce that further to the Company’s news release dated June 30, 2017, the TSX Venture Exchange has approved the private placement for 12,951,944 units at a price of $0.08 per unit (the “Unit”). Each Unit consists of one common share (the “Shares”) and one-half share purchase warrants (the “Warrants”). Each whole Warrant will entitle the holder to purchase one additional common share, exercisable at a price of $0.15 per share for a period of 18 months from the date of issue of the Warrant.
All securities issued will be subject to a four-month hold period. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Proceeds from the Private Placement will be used for to advance Saturn’s Saskatchewan oil & gas properties.
We seek Safe Harbour.
About Saturn Oil + Gas Inc.
Saturn Oil + Gas Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a public energy Company focused on the acquisition and development of undervalued, low risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn’s portfolio will become its key to growth and provide long-term stability to shareholders.