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Prospera Undertakes Non-Brokered Private Placement/Issues Options

Accesswire Friday, 6 December 2019
Prospera Undertakes Non-Brokered Private Placement/Issues Options*Not for Distribution to U.S. News Wire Services or for Dissemination in the United States*

*CALGARY, AB / ACCESSWIRE / December 6, 2019 / *Prospera Inc. ("*Prospera*" or the "*Corporation*") (TSXV:PEI)(FRA:OF6A) announces that it is undertaking a non-brokered private placement (the "*Private Placement*") of up to 12,000,000 units of the Corporation ("*Units*") at a price of $0.03 per Unit for aggregate gross proceeds of $360,000. 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 $0.06 per Common Share for a period to and including December 18, 2020. The proceeds of the private placement will be used for repayment of debt to the Corporation's principal lender, continuing capital programs and working capital.

All securities in the Private Placement will be subject to a four month hold period from closing.

Insiders have committed to subscribe for at least 7,000,000 Units of the Private Placement.

Prospera has also approved the issuance of *1,050,000 *options to directors, officers and consultants exercisable at $0.05 per Common Share vesting as to 1/3 on the date of grant and 1/3 on each or the first and second anniversaries of the grant and expiring on December 5, 2024.

Prospera presently has 56,772,278 Common Shares outstanding on a basic basis.

*About Prospera*

Prospera is a Canadian natural resource company engaged in the acquisition, exploration, development and exploitation of oil and gas properties in Western Canada.

*For further information:*

Rob Richardson, Chief Executive Officer Email: [email protected]
Tel: (403) 990-3162
Website: www.prosperaenergy.com

*FORWARD-LOOKING STATEMENTS*

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 proposed use of proceeds from the Private Placement with any change if so determined by management or the Board.

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.*

*SOURCE: *Prospera Energy Inc.
View source version on accesswire.com:
https://www.accesswire.com/569427/Prospera-Undertakes-Non-Brokered-Private-PlacementIssues-Options
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