Kelowna, British Columbia, Canada, June 18, 2019: Prospera Inc. ("Prospera" or the "Corporation") (PEI:TSX-V; OF6A:FRA) has completed a non-brokered private placement (the "Private Placement") of 3,020,000 units of the Corporation ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $151,000. Each Unit consists of one common share of the Corporation (a "Common Share") and one half Common Share purchase warrant (a "Warrant"). The Warrants will not be listed. Each Warrant shall be exercisable for one half Common Share at a price of $0.075 per Common Share for a period to and including June 17, 2021. The proceeds of the private placement will be used for working capital and continuing capital programs including the 15% interest purchased on the Luseland, Hearts Hill and Cuthbert properties. A finders fee of $5,100 was paid to an arms length party.
All securities in the Private Placement will be subject to a four month hold period from closing.
One Director subscribed for 1,000,000 Units and one Officer of Prospera subscribed for 1,000,000 Units of the Private Placement.
After giving effect to the Private Placement, Prospera now has 56,952,278 Common Shares outstanding on a basic basis.
Prospera is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Prospera develops, acquires and exploits oil and gas mineral rights for primary and secondary recovery.
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. More particularly, this news release contains forward-looking statements concerning the use of proceeds from the Private Placement and the issuance of Common Shares to the Consultant.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units (or constituent securities) have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.