News

 August 01, 2017
Oyster Announces Engagement of Advisers for Proposed AIM Listing and Closing of Second Tranche of Private Placement

 Vancouver, British Columbia -- August 1, 2017 -- Oyster Oil and Gas Ltd. ("Oyster" or the "Company") (OY: TSXV, 13L: FSE) is pleased to announce that in connection with the Company's proposed admission of its common shares to trading on AIM, a market of the London Stock Exchange (the "AIM Listing"), the Company has appointed Beaumont Cornish Limited as financial and nominated adviser and Peterhouse Corporate Finance Limited as broker. The Company anticipates the AIM Listing to occur in the near future.

Oyster is also pleased to announce that further to the Company's press release dated July 25, 2017, the Company has issued an additional CAD$81,300 of principal amount of convertible debentures (the "Convertible Debentures"), which together with the first tranche of the Company's Convertible Debenture completes the private placement resulting in aggregate gross proceeds to the Company of CAD$1,232,215. The Convertible Debentures accrue interest at the rate of 10% per annum, are convertible at the option of the holder into common shares of the Company at a deemed price of the lesser of CAD$0.50 or a 20% discount to the AIM Listing offering price of the Company's common shares, subject to compliance with TSX Venture Exchange minimum pricing policies, and have a term of twelve months, subject to acceleration upon completion of the AIM Listing. Accrued interest on the Convertible Debentures may be converted into common shares at a minimum conversion price of not less than the "Market Price" (as defined in the policies of the TSX Venture Exchange) at the time such interest becomes due and payable. The subscriber for this additional tranche of Convertible Debentures has also been issued 40,650 detachable common share purchase warrants (each, a "Debenture Warrant"). Each Debenture Warrant entitles the holder thereof to acquire one Common Share at a price of CAD$0.55 until the expiry of the Convertible Debentures. All securities issued in connection with the Convertible Debentures are subject to a four-month-and-one-day statutory hold period.

About Oyster Oil and Gas Ltd.

Oyster is an upstream oil and gas company with a focus on Eastern Africa. Oyster holds production sharing contract interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a 100% working interest and is the operator of an onshore block located in northwest Madagascar covering approximately 2.8 million acres.

For further information please contact: Emily Davis, Corporate Secretary
Tel: (604) 628-5616
Fax: (604) 662-7950

This news release contains statements about the Company's expectations regarding the completion of the AIM Listing that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements and there can be no assurance that such expectations will prove to be correct. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the AIM Listing for any reason whatsoever. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

This news release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S. Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of the Corporation. The securities of the Corporation have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.


Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
 
 

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