Alvopetro Inc.

Alvopetro Inc.

June 20, 2013 16:47 ET

Alvopetro Inc. Announces Private Placement

CALGARY, ALBERTA--(Marketwired - June 20, 2013) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Alvopetro Inc. ("Alvopetro" or the "Company") announced today that it has completed the second tranche of a $5,000,000 non-brokered private placement of up to 20,000,000 common shares at a price of $0.25 per share (the "Offering").

The Company raised gross proceeds of $575,000 through the issuance of 2,300,000 common shares in the second tranche of the Offering.

In connection with the first tranche of the Offering, the Company will pay aggregate finder's fees of $40,250 in cash.

All of the common shares issued under the private placement are subject to a four month hold period from the date of issuance.

The proceeds from the private placement will be used to augment the Company's unallocated working capital and finance its operations in Brazil.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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