Umbral Announces Non-Brokered Unit Private Placement

2017-07-14 / @thenewswire

(TheNewswire)

Vancouver, B.C. / TheNewswire / July 14, 2017 - UMBRAL ENERGY CORP. (CSE: UMB) ("Umbral or Company") announces that non-brokered private placement consisting of up to 34,000,000 units (the "Units") at a purchase price of $0.06 per Unit to raise gross proceeds of up to $2,040,000 (the "Private Placement"). Each unit will consist of one common share in the capital of the Company and one share purchase warrant (a "Warrant"). Each full warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of 2 years, at a purchase price of $0.10 per Share.

The Company may pay a finder's fee in connection with the Private Placement within the amount permitted by the policies of the Exchange. Certain directors, officers and insiders of the Company may participate in the Private Placement. The Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The Warrants are subject to an accelerated expiry if, anytime following the expiration of the four-month hold period, the Shares trade at a price equal to or greater than $0.20 on the CSE such other market as the Shares may trade from time to time, for ten (10) consecutive trading days, in which event the Subscriber may, at the Issuer's election, be given notice that the Warrants of the Issuer will expire 30 days following the date of such notice. The Warrants may be exercised by the Holder during the 30 day period between the notice and the expiration of the Warrants.

The net proceeds from the Private Placement will be used by the Company to pay the balance of purchase price for Falkland, BC property, completion of phase 1 of the build-out prior to an award of a license to cultivate, fund a work program for Letourneur Property and for general working capital.

About Umbral Energy Corp.

The Company is currently listed as a junior resource issuer having mineral exploration projects. The Company is considering other activities to increase shareholder value, including non-resource projects. The Company has a mineral exploration project in Quebec. In addition the Company has an interest in PhyeinMed, who has applied for a license from Health Canada to legally grow and sell medical marijuana.

ON BEHALF OF THE BOARD OF DIRECTORS OF UMBRAL ENERGY CORP.

"Jag Bal"

Jagdip Bal

President and CEO

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other

factors that may cause actual events to differ materially from current expectation. Important factors - including the availability

of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially

from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as

of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to

update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

UMBRAL ENERGY CORP.

929 Mainland Street, Vancouver, BC V6B 1S3

Tel: (604) 628-1767 | Fax: (604) 628-0129

info@umbralenergy.com | www.umbralenergy.com

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