VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 2, 2014) - United Hunter Oil and Gas Corp. (TSX VENTURE:UHO)("UHO"). United Hunter Oil and Gas Corp. (the "Company"), is pleased to announce the closing of its previously announced non-brokered private placement financing. Oversubscribed, the total aggregate gross proceeds raised was $1,000,000 (the "Offering"). The Offering consisted of 20,000,000 common shares in the capital of the Company (each a "Common Share") at a price of $0.05 per Common Share. As part of the Offering the Company paid a cash finder's fee equal to 5% of the $140,000 proceeds raised by such finder.
The net proceeds from the Offering will be used for: continuing expenses associated with the minor use permit application currently being reviewed by San Luis Obispo County and the anticipated drilling of the Porter Ranch prospect near the Huasna Valley, in San Luis Obispo County, California; ongoing legal expenses associated with the Corporation's interest in the Mankin's Ranch Prospect in the Huasna Valley; and general working capital and repayment of debt.
Tim Turner, CEO, stated, "United Hunter is very pleased with the heightened interest of investors to this offering. We have several new projects on the horizon, in addition to our current prospects in California, and these funds will help United Hunter greatly towards achieving these future goals."
The Offering is subject to the final acceptance of the TSX Venture Exchange, and all securities issued pursuant to the Offering are subject to a four-month and one day hold period.
United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based corporation with management very experienced in the oil and gas industry with projects in the United States. United Hunter Oil & Gas Corp. is publicly traded on TSX Venture Exchange (TSX VENTURE:UHO). The Corporation's public filings may be found at http://www.sedar.com.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
United Hunter Oil and Gas Corp.Timothy Turner
firstname.lastname@example.orgUnited Hunter Oil and Gas CorpJeff Ratcliffe
Source: United Hunter Oil & Gas Corp.