VANCOUVER, BC, July 28, 2020 /CNW/ - Renaissance Oil Corp. ("Renaissance" or the "Company") (TSXV: ROE) (OTCQB: RNSFF) announces that, effective June 1, 2020, it had retained Haywood Securities Inc. ("Haywood") as its financial advisor to provide financial advisory services (the "Services") to the Company.
As consideration for the Services provided by Haywood, the Company agreed to pay Haywood an advisory fee of C$100,000 to be satisfied by the issuance of common shares of the Company (the "Shares") at a deemed price of C$0.06 per Share (being the closing price of the Company's common shares on the TSX Venture Exchange ("TSXV") on July 24, 2020 (being the date on which the Services were completed and the date on which Haywood's engagement ended)).
The Shares will be subject to a four month hold period in accordance with applicable Canadian securities laws and are subject to the acceptance of the TSXV.
RENAISSANCE OIL CORP.
Craig Steinke
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Such statements include, without limitation, statements with respect to the final acceptance of the issuance of the Shares by the TSXV. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, including the business of the Company, the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, and delay, inability to complete a financing or failure to receive regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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 news release.
SOURCE Renaissance Oil Corp.
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