Valparaiso Energy Inc.: Announcement of Private Placement

CALGARY, ALBERTA–(Marketwired – Oct. 16, 2015) –

Valparaiso Energy Inc. (the “Corporation“) (NEX:VPO.H) is pleased to announce that it intends to complete a private placement financing of up to $300,000 through the issuance of units consisting of up to 15,000,000 common shares of the Corporation at a price of $0.02 per share. The common shares will be subject to a four month hold period. Proceeds of the offering will be primarily used for the remediation of an existing natural gas well in Alberta, environmental work on its properties and for general operational expenses. Insiders are expected to subscribe for securities in the private placement transaction. Details of such insider subscriptions will be provided in further news releases regarding the financing. The closing of the offering are subject to any and all required regulatory approvals, including approval of the NEX Board of the TSX Venture Exchange.