/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE U.S./
NEX Exchange
Trading Symbol: MOE.H
VANCOUVER, June 8, 2018 /CNW/ -
Non-Brokered Private Placement
Metropolitan Energy Corp. (the "Company") is
pleased to announce that it has, subject to final approval of the
NEX board of the TSX Venture Exchange (the "NEX"), closed
its previously announced non-brokered private placement (the
"Private Placement") of units in the capital of the Company
("Units"), pursuant to which, the Company issued an
aggregate of 2,142,145 Units for gross proceeds of CDN$749,750.25. Each Unit is comprised of one
common share of the Company (a "Share") and one Share
purchase warrant (a "Warrant"). Each Warrant entitles the
holder thereof to purchase one Share at a price of CDN$0.35 per Share for 60 days from the date of
issuance.
The net proceeds of the Private Placement will be used for
general working capital.
Pursuant to applicable securities laws, all securities issued
pursuant to the Private Placement will be subject to a hold period
of four months plus one day following the date of issuance of such
securities.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jordan Shapiro -
Director"
METROPOLITAN ENERGY CORP.
Forward-looking Information Cautionary Statement
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning the
terms of the Private Placement. The forward-looking statements in
this press release are based on certain expectations and
assumptions made by the Company. Although the Company believes that
the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to, risks associated with adverse market
conditions, the NEX not providing final approval of the Private
Placement. Forward-looking statements are based on estimates and
opinions of management of the Company at the time the statements
are presented. The Company may, as considered necessary in the
circumstances, update or revise such forward-looking statements,
whether as a result of new information, future events or otherwise,
but the Company undertakes no obligation to update or revise any
forward-looking statements, except as required by applicable
securities laws.
Neither the 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 this release.
SOURCE Metropolitan Energy Corp.