TransAmerican Energy Inc.
TSX VENTURE : TAE
FRANKFURT : YQJ

TransAmerican Energy Inc.

March 11, 2014 13:53 ET

TransAmerican Announces Negotiation of Financing up to $500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 11, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TransAmerican Energy Inc. (the "Company") (TSX VENTURE:TAE) (FRANKFURT:YQJ) announces that it has negotiated, subject to acceptance by the TSX Venture Exchange (the "Exchange"), a private placement for gross proceeds up to $500,000.

These funds will be raised by the Company issuing a total of up to 10,000,000 Units (the "Units") at a price of $0.05 per Unit, each Unit consisting of one common share and one-half share purchase warrant (the "Warrants"), each whole Warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of one (1) year from the date of issuance at a price of $0.10 per share.

Proceeds raised from the private placement will be used towards development of its oil and gas properties including its Anticosti Island property held in Quebec, and for general working capital.

The Company may pay finders' fees in connection with the private placement in accordance with the rules and policies of the Exchange.

ON BEHALF OF THE BOARD

Richard Barnett, Chief Financial Officer

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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

  • TransAmerican Energy Inc.
    Richard Barnett
    Chief Financial Officer
    (604) 336-8617