News Column

SIMBA ENERGY ARRANGES PRIVATE PLACEMENT

June 13, 2014



ENP Newswire - 13 June 2014

Release date- 12062014 - Vancouver, British Columbia - Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) is pleased to announce a non-brokered private placement for gross proceeds of up to Cdn$3.0 million.

The Company is to issue up to 50 million units (the 'Units') at a price of Cdn$0.06 per Unit, with each Unit consisting of one (1) common share in the capital of the Corporation and one (1) full share purchase warrant (a 'Warrant'). Each Warrant is exercisable for four years to purchase one additional common share at a price of Cdn$0.10 during the first two year period, or at a price Cdn$0.15 for the next two year period. A hold period of four months and one day from date of issue will apply to all securities issued pursuant to the Private Placement.

Net proceeds from the Private Placement will be used towards funding and exploration commitments associated with the Company's Production Sharing Contracts in Kenya, retirement of certain debt and general working capital purposes.

The offering is available to residents of Canada, the United States and the United Kingdom pursuant to available prospectus and registration exemptions.

A finder's fee of 7% cash and 7% share purchase warrants ('Finder's Warrants') will be paid and issued in respect of a portion of the gross proceeds raised from the Private Placement. Each Finder's Warrant will entitle the finder to purchase one common share of the Company at a price of Cdn$0.10 for a period of two years from closing.

About Simba Energy

Simba Energy Inc. is establishing itself as a diversified international explorer and developer with a growing oil and gas acreage position in Africa, with onshore Production Sharing Contracts in Kenya, Guinea and Chad.

Contact:

Mark Sommer

Toll Free: 1 855 777 4622

Email: mark@simbaenergy.ca


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Source: ENP Newswire


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