|By Marketwired .||
|June 9, 2014 04:59 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- CaiTerra International Energy Corporation (the "Company") (TSX VENTURE: CTI) announces that it has decided to increase the size of its previously announced non-brokered private placement financing (the "Financing") described in its news release dated June 4, 2014. The Company previously disclosed that it intended to complete the Financing of up to 20,000,000 units (each, a "Unit") of the Company at a price of $0.10 per Unit for total proceeds of up to $2,000,000. The Company announces that it has decided to increase the number of Units to be issued to up to 30,000,000 Units for total proceeds of up to $3,000,000.
Each Unit will be comprised of one common share of the Company and one common share purchase warrant. Each common share purchase warrant will be exercisable into one common share of the Company at an exercise price of $0.15 per share for two years from the date of issuance.
All other terms of the Financing as announced on June 4, 2014 remain the same.
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.
A Note Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding the Company's intention to complete a non-brokered private placement financing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the private placement may not be completed as expected or at all, that the TSX Venture Exchange may not approve the private placement and such other factors beyond the control of the Company. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward-looking statements or forward-looking information in this news release.
CaiTerra International Energy Corporation
Chief Executive Officer and Director