Troy Energy Corp.

November 09, 2011 13:23 ET

Troy Energy Corp. Announces Closing of Private Placement

VANCOUVER, B.C.--(Marketwire - Nov. 9, 2011) - Troy Energy Corp. (the "Corporation" or "Troy") (NEX:TEG.H) announces that it has closed its previously announced private placement financing with the issuance of 2,999,663 common shares at a price of $0.15 per share for aggregate gross proceeds of $449,950. In accordance with applicable securities laws, the common shares issued under this offering are subject to four-month hold periods that will expire on March 10, 2012. The proceeds from this offering will be used for restructuring costs, payment of outstanding liabilities, due diligence expenditures relating to potential TSX Venture Exchange graduation transactions and for general working capital purposes.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither 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 the release.

Contact Information

  • Troy Energy Corp.
    James Owen
    President and Chief Executive Officer
    (604) 684-9201
    (604) 684-9877 (FAX)