Toronto, Ontario--(Newsfile Corp. - August 30, 2018) - Advantagewon Oil Corp., (CSE: AOC) (OTCQB: ANTGF) (the "Corporation", "Advantagewon", "AOC"), announced today that it has closed the first tranche of its non- brokered private placement raise. In total One Hundred and Fifty-Four Thousand, Two Hundred and Forty-One Dollars ("$154,241,00") CDN was raised in this tranche via the sale of Three Million, Eighty-Four Thousand, Eight Hundred and Twenty-Eight ("3,084,828") Units at a price of Five Cents ("$0.05") CDN per Unit. Each unit is comprised of one common share of the Corporation, and one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Corporation for Ten Cents ("$0.10") CDN for a period of 24 months from the closing date. All common shares issued in connection with this placement will be subject to a four month plus one day hold period under applicable Canadian securities laws.
In connection with the closing of this tranche of the private placement offering, Advantagewon Oil Corp., paid a finder's fee totaling Twelve Thousand, Three Hundred and Thirty-Nine Dollars ("$12,339.00") CDN in connection with certain subscriptions for the Corporation's Units. All proceeds from the financing will be used for drilling, acquisitions and general working capital purposes.
About Advantagewon Oil Corp.
Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells in the State of Texas. AOC applies specialized expertise to increase oil recovery from 10-15% to up to 75% for each well. Once the enhanced recovery strategy is successfully applied, AOC will repeat the process throughout the oil pool to maximize output and minimize cost and risk. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE: AOC). For more information please visit www.aoc-oil.com.
For further information please contact:
Mr. Charles Dove
CEO & Director
Advantagewon Oil Corp.
T: (403) 815-2440
E: charles.dove@aoc-oil.com
W: www.aoc-oil.com
Mr. Paul Haber
Chairman & Director
Advantagewon Oil Corp.
T: (416) 318-6501
E: paul.haber@aoc-oil.com
W: www.aoc-oil.com
Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037
E: frank.kordy@aoc-oil.com
W: www.aoc-oil.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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