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.
