VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 25, 2017) – Troy Energy Corp. (the “Corporation” or “Troy”) (NEX:TEG.H) announces that it intends to conduct a private placement financing of up to 8,000,000 common shares at a price of $0.05 per share for aggregate gross proceeds of $400,000. The Corporation also announces that it will issue 1,200,000 common shares at a deemed price of $0.05 per share in settlement of existing loans payable to an Officer, a Director and a Shareholder in the total amount of $60,000. Both transactions are subject to regulatory approval. In accordance with applicable securities laws, the common shares issued under these issuances are subject to four-month hold periods. The proceeds from this private placement will be used for investigation of new projects and for general working capital purposes. Directors, Officers and existing Shareholders may participate in this private placement.
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither 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 the release.
President and Chief Executive Officer