Umbral Closes Private Placementadmin
Vancouver, B.C., January 10, 2014 – UMBRAL ENERGY CORP. (TSX-V: UMB) (the "Company" or "Umbral") that further to the news of December 24th, 2013, the Company has completed the first tranche of this Private Placement announced November 5, 2013. The Company has decided to close the financing and will not be proceeding with any further tranches.
In addition the Company announces that it has granted a total of 1,050 ,000 incentive stock options to directors/officers/employees and/or consultants under the Company’s Stock Option Plan. The options are exercisable at $0.05 per share and will expire January 10, 2019. Following this grant of options, the Company has 2,550,000 stock options outstanding.
About Umbral Energy Corp.
Umbral Energy Corp. is a resource company focused on the exploration of the Letourneur Property in the Abitibi region of southwestern Quebec and strategic alliances in resource plays and conventional oil production assets, in Canada, to increase shareholder value with focus on growth in production and cash flow. Management continues to review other opportunities in the resource sector.
The Company has a 25% interest in the Little Bow Prospect, located in Southern Alberta, Aroway Energy Corp. is the operator and has a significant track record of success.
ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.
President and CEO
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.
Posted: January 10th, 2014 under ACCESSWIRE.