TSX Venture Exchange
Suite 918-1030 West Georgia Street
Vancouver, British Columbia Canada V6E 2Y3
Tel. No. (604) 628-5621 ♦ Fax No. (604) 662-7950
TSX Venture Exchange Trading Symbol: OY
Oyster Increases Size of Previously Announced
Private Placement To CDN$1,500,000
Vancouver, British Columbia – June 6, 2017 – Oyster Oil and Gas Ltd. ( "Oyster" or
the "Company") is pleased to announce that due to strong demand the Company has
increased the size of its previously announced non -brokered private placement of units
(the " Units") from aggregate gross proceeds of up to CDN$1,000,000 to up to
CDN$1,500,000 (the "Financing").
Pursuant to the Financing, the Company will issue an aggregate of up to 3,000,000 Units
at a price of CDN$0. 50 per Unit. Each Unit will consist of one common share of the
Company (each, a " Common Share") and one transferable common share purchase
warrant (each, a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one
Common Share at a price of CDN$0. 55 for a period of two years from closing of the
Financing. The securities issued in connection with the Financing will be subject to a
statutory hold period in accordance with applicable securities legislation.
The closing of the Financing is expected to occur by no later than July 13, 2017 , and
remains subject to certain closing conditions, including, but not limit ed to, the receipt of
applicable regulatory approvals and the completion of required regulatory filings with the
TSX Venture Exchange (the "TSXV"). The Company intends to use the net proceeds of
the Financing for general corporate and working capital purposes.
About Oyster Oil and Gas Ltd.
Oyster is an upstream oil and gas company with a focus on Eastern Africa. Oyster holds
production sharing contracts interests with the Government of Djibouti and the
Government of Madagascar. Oyster holds 100% working interest and is the operator of
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.
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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 Financing that are for ward-
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
Financing for any reason whatsoever, including failure to obtain TSXV acceptance. 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 forwar d-
looking stateme nts 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, a s 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 un der 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 TSX V) accepts responsibility for the adequacy or accuracy of this news
release.