VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 1, 2012) - Berkley Renewables Inc. ("Berkley" or the "Company") (CNSX:BKS) (FRANKFURT:WKN 871666)(BERLIN:WKN 871666) is pleased to announce a non-brokered private placement consisting of up to 5,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share and one-half of one common share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional common share (the "Warrant Shares") of the Company at a price of $0.20 per Warrant Share for a period of two years following the close of the private placement. Proceeds arising from the sale of the Units will be used for general working capital purposes.
Berkley Renewables Inc. is a growth-oriented oil and gas issuer pursuing renewable energy opportunities, primarily in the solar energy sector.
ON BEHALF OF THE BOARD
Matt Wayrynen, President and Chief Executive Officer
This release may contain statements that are considered as forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.