TORONTO, ONTARIO -- (Marketwire) -- 06/27/12 -- Ecosse Energy Corp. (CNSX: ECS) (the "Company"), a company focused on oil and gas exploration and production in Indonesia, announces that it has completed a further private placement of C$750,000 with two arms-length investors. The Company has now raised a cumulative sum of C$1,500,000 since May 2012. This last C$750,000 included C$375,000 of common shares issued at C$0.35 per share and a debenture for C$375,000 having a maximum 2-year term and convertible to common shares at C$0.50 per share.
The Company also announces that it has issued warrants to purchase 5,934,095 common shares at C$0.50 per share for a 2 year term to Lainston Capital Pte Ltd. in connection with a standby purchase agreement and corporate finance consulting services provided during 2012.
About the Company
Ecosse Energy Corp. was incorporated under the Canada Business Corporations Act and is a reporting issuer in the Provinces of Alberta, British Columbia, Manitoba, and Ontario. Through its wholly owned subsidiary companies it owns 100% Working Interest and is the Operator of two Indonesian oil and gas Production Sharing Contracts - the Bengkulu PSC in South Sumatra and the Manokwari PSC in Papua province. The Bengkulu PSC covers 1,262 km2 (311,847 acres) and consists of both onshore and offshore portions. The Manokwari PSC is onshore and covers 1,298 km2 (320,742 acres).
Further information concerning the Company can be found at www.sedar.com and www.cnsx.ca.
Neither the Canadian National Stock Exchange nor its regulation services provider nor the Alternative Investment Market on the London Stock Exchange accepts responsibility for the adequacy or accuracy of this release.
Ecosse Energy Corp.
Alan W Morrison
President & CEO
+1 877 284 6848
Fox-Davies Capital Limited
Daniel Fox-Davies / Richard Hail / Barry Saint
+44 (0) 20 3463 5000