Morumbi Oil and Gas Inc.
TSX VENTURE : MOC

Morumbi Oil and Gas Inc.

April 21, 2011 17:09 ET

CORRECTION FROM SOURCE: Morumbi Oil & Gas Inc. Closes Private Placement

CALGARY, ALBERTA--(Marketwire - April 21, 2011) - A correction from source is being issued for the release disseminated yesterday, April 20, 2011, at 07:51 pm ET.

Morumbi Oil & Gas Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company"). Further to its press release issued April 20, 2011 announcing that it has closed a non-brokered private placement offering (the "Offering") for aggregate gross proceeds of $1,700,000, the Company would like to correct its disclosure in respect of the warrants (the "Finder's Warrants") issued to finders in connection with the Offering. The Company paid an aggregate amount of $56,160 in cash fees and also issued an aggregate of 344,640 Finder's Warrants to certain eligible arm's length persons. Each Finder's Warrant entitles the holder thereof to acquire one Unit of the Company at a price of $0.25 per Unit until April 19, 2012.

About Morumbi

Morumbi Oil & Gas Inc. is a public company with attractive near-term light oil exploitation opportunities in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC". For more information about Morumbi and the Company's McKinley Property and plans visit our website at www.morumbi.ca.

Disclaimer

Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for developing assets) and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, commodity prices, risks inherent in the oil & gas industry, financing risks, labour risks, title disputes, regulatory risks, currency fluctuations, competition, unexpected decline rates in wells, changes in taxation or royalty regimes and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

Contact Information

  • Morumbi Oil & Gas Inc.
    Thomas J. Loch
    President & C.O.O.
    1-403-263-8420
    tloch@morumbi.ca