Toronto, Ontario, March 5th, 2018 Advantagewon Oil Corp., (CSE: AOC), (OTCQB: ANTGF), (the Corporation, Advantagewon, AOC) announced today that it had closed the first tranche of its non- brokered private placement raise where Seven Hundred and Forty-One Thousand, Six Hundred Dollars ($741,600.00) CDN was raised by issuing Four Million, Nine Hundred and Forty-Three Thousand, Nine Hundred and Ninety-Nine (4,943,999) Common Shares at a price of Fifteen Cents ($0.15) CDN per Common Share. 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. No finders fees or commissions were paid in connection with the closing of this private placement offering. Proceeds of the placement will be used for both acquisitions and for working capital purposes.
The Corporation also announced today that certain consultants to the Corporation have exercised Four Million, Six Hundred and Fifty Thousand (4,650,000) stock options for gross proceeds received by the Corporation of Four Hundred and Sixty-Five Thousand Dollars ($465,000.00) CDN.
The Corporation also entered into a shares for debt settlement pursuant to which Advantagewon issued Nine Hundred and Thirty-Eight Thousand, Eight Hundred and Twenty-Three (938,823) common shares at a deemed price of Fifteen Cents ($0.15) CDN per share to settle Sixty-Two Thousand, Five Hundred and Eighty-Eight ($62,588.00 CDN) in debt owed to one creditor.
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 in oil pool development by development drilling, pressure restoration and maintenance using water and chemical injection to increase oil recovery from 10-15% to up to 75% for each pool.. 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. Advantagewons 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
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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