CALGARY, ALBERTA--(Marketwire - Dec. 21, 2012) - HANSAR ENERGY CORP. ("HANSAR" or the "Company") is pleased to announce that it is currently conducting a private placement consisting of units and flow-through shares at a price of $0.50 per unit and Flow-through shares at a price of $0.60 per CEE Flow Through Share for aggregate gross proceeds of $2,000,000 (the "Private Placement"). Each unit consists of one common share and a full warrant exercisable into one common share at a price of $0.60 for a period of one year from issuance. The securities have a Penalty Warrant Provision equal to 0.1 common share for each common share, flow-through share or warrant issued if the shares of HANSAR or a successor company are not listed for trading on a registered exchange by December 1, 2013.
The Private Placement is non-brokered, however, HANSAR may pay finders a fee consisting of 7% cash and 7% warrants from the proceeds of the Private Placement to qualified persons in accordance with applicable securities laws.
The Private Placement is being offered in accordance with exemptions from the prospectus requirements of Canadian securities laws and is only open to "Accredited Investors" as defined in National Instrument 45-106 - "Prospectus and Registration Exemptions".
HANSAR is a private oil & gas exploration and production company, with primary focus on the Manitoba Bakken and lower risk opportunities in Alberta. HANSAR has entered into a Letter of Intent with Primewest Exploration Inc. (PWI.H) dated November 8, 2012 regarding a proposed transaction by which Primewest will acquire Hansar in a reverse takeover transaction (subject to regulatory approval), including the approval of the TSX Venture Exchange. Further information regarding the transaction with Primewest is available under Primewest's profile on SEDAR at www.sedar.com.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Hansar cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hansar's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Hansar undertakes no obligation to publicly update or revise forward-looking information.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has neither approved nor disapproved of the contents of this press release