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  • Decklar Resources (DKL) has closed on the first C$10 million of a $15 million non-brokered financing
  • The company will use the funds from the first closing to pursue new oil and gas development opportunities in Nigeria and for general corporate purposes
  • The company received an extension from the TSXV to complete the remaining $4,925,000 under the offering prior to June 28, 2021
  • Decklar Resources is an oil producer with emerging operations in Nigeria
  • Decklar Resources (DKL) is down by 5.51 per cent and is currently trading at $1.20 per share

Decklar Resources (DKL) has closed on the first C$10 million of a $15 million non-brokered financing. 

The company is seeking to raise the $15 million by way of a unit offering priced at $1.00 per unit.

Each unit consists of one Decklar common share and one-half of one common share purchase warrant.

Each warrant entitles the holder to acquire one common share for $1.50 for up to one year from the closing date of the offering.

Decklar completed the first closing for total gross proceeds of $10,075,000 with net proceeds to the company of $9,404,700.

The company will use the funds from the first closing to pursue new oil and gas development opportunities in Nigeria and for general corporate purposes.

Decklar received an extension from the TSXV to complete the remaining $4,925,000 under the offering prior to June 28, 2021.

Echelon Wealth Partners is serving as strategic advisor in connection with the offering.

With regard to its current projects, preparations at the company’s Oza-1 wellsite at the Oza Oil Field in Nigeria are steadily advancing. The rig camp and all associated infrastructure is fully operational, while the remaining major components of the drilling rig will be mobilized this week.

Decklar Resources is an oil producer with emerging operations in Nigeria.

Decklar Resources (DKL) is down by 5.51 per cent and is currently trading at $1.20 per share as of 11:30 am ET.

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