Letho Resources Completes Second Tranche of Private Placement

Not for Distribution to United States Wire Services or Dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / March 19, 2019 / LETHO RESOURCES CORP. (TSX-V:LET) (the “Company“) announces that it has completed the second tranche of a non-brokered private placement of 3,232,000 units (“Units”), issued at a price of $0.25 per Unit, for gross proceeds of $808,000. Each unit consists of one common share (“Common Share”) and one-half non-transferable common share purchase warrant (“Warrant”). Each full Warrant entitles the holder to acquire one additional Common Shares of the Company at a price of $0.40 per Common Share for eighteen months from the date of issuance.

Finder’s fees for the amount of $63,840 were paid in 255,360 Units to agents in connection with the private placement.

The net proceeds of the private placement will be used for general corporate purposes, including due diligence relating to the Company’s business combination with Anio Oil & Gas Sh. a. (“Anio”). As previously disclosed, subject to the approval of the TSX Venture Exchange, the Company may also advance up to $500,000 of the proceeds of the Private Placement to Anio, a private Albanian company that holds a license to the Ballsh-Hekal producing oil field in Albania. Details on the proposed loan to Anio and the transaction were announced July 10, 2018. The Company is continuing to pursue the closure of the Anio acquisition. Gross funds raised from the first and second tranches of the private placement equal $1,029,000. The Company also intends to close one or more additional tranches of this private placement for total gross proceeds (in all tranches) of up to $1,500,000 prior to the completion of the transaction.

Quote from Sotirios Kapotas, President and CEO of Letho Resources Corp.

“We are excited for the contribution of these investors to our private placement as they confirmed their support and confidence in Letho. This support will initiate a momentum for funding the transaction with Anio and increase our shareholder value by increasing production of the Ballsh-Hekal oil field. We are now ready to start planning to complete the transaction as quickly as possible.”

About Letho Resources Corp.

Letho Resources is an emerging oil and gas production focused company, currently advancing an acquisition of a production asset. Letho recently announced a Memorandum of Understanding with Anio Oil & Gas Sh.a., which has a Petroleum Licence Agreement for the Ballsh-Hekal producing oil field in Albania.

Completion of the business combination transaction with Anio is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the business combination transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the business combination transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the proposed business combination transaction, any information released or received with respect to the business combination transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company, once resumed, should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed business combination and has neither approved nor disapproved the contents of this news release.

To learn more about us, please visit our website at: www.lethoresources.com

ON BEHALF OF THE BOARD OF DIRECTORS OF LETHO RESOURCES CORP

Dimitri Soudas

Chairman of the Board

For more information, please contact:

Sotirios Kapotas

[email protected]

or Jason Leikam

[email protected]

Website: www.lethoresources.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. Such statements include the terms of the proposed private placement (including proposed use of proceeds) and the terms of the proposed business combination with Anio. These statements reflect management’s current estimates, beliefs, intentions and expectations and are not guarantees of future performance. Such statements are based upon certain assumptions which Letho’s management believes to be reasonable, including assumptions relating to the availability of funds to complete the private placement, the nature of Anio’s assets and the expected conditions to closing. Letho cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Letho’s control. Such factors include, among other things: risks and uncertainties relating to Letho’s ability to complete the proposed private placement and satisfying the conditions to closing of the business combination transaction, including the completion of satisfactory due diligence. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Letho undertakes no obligation to publicly update or revise forward-looking information.

NEITHER 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.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

SOURCE: Letho Resources Corp.

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