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Shoal Point Energy (CSE: SHP) announced a non-brokered private placement.

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The offering of up to 100 million units is priced at $0.005 (one half a cent) per unit for gross proceeds of up to $500,000, which will be used for general working capital purposes. Each unit consists of one share and one warrant, with each full warrant exercisable at $0.05 for 5 years.

Additional Information:

Company: Shoal Point Energy
Website: http://www.shoalpointenergy.com/
Stock Symbol: CSE: SHP
Date Published: Aug 17, 2015
Transcript: Available

Video Transcript:

I’m Amanda Rose Schellenberg for Investmentpitch Media

Shoal Point Energy, symbol SHP on the Canadian Securities Exchange, announced a non-brokered private placement.

The offering of up to 100 million units is priced at $0.005 (one half a cent) per unit for gross proceeds of up to $500,000, which will be used for general working capital purposes.

Each unit consists of one share and one warrant, with each full warrant exercisable at $0.05 for 5 years.

Portions of the private placement may be subject to a finder’s fee of 6% in cash plus 6% in warrants.

Shoal Point Energy, a petroleum exploration and development company with offices in Toronto and Vancouver, is exploring and developing the extensive Green Point oil-in-shale play, which it believes is one of the largest undeveloped oil resources in North America.

“Oil-in-shale” is distinguished from “oil shale” in that it does not require mining or underground injection of a heat source to “mature” the oil from the shale and move it to surface.

It is a mature, already- generated liquid phase of oil that is simply trapped in impermeable rocks that generally need to be stimulated for extraction.

The company holds the rights to the exploration lands covering approximately 220,000 acres in the near offshore of the west coast of Newfoundland.

A major attraction is that the Green Point play can be developed almost entirely by land-based drilling in the early years of development.

Also attractive is its location along an accessible coastline in northeastern North America, with highways, deep year-round ports, and an abundance of space for infrastructure development.

The company believes its property compares favourably to other significant oil-in-shale sites globally, such as the Eagle Ford Shale in South Texas, which is considered by some to be one of the most significant oil discoveries in the U.S. in the past 40 years.

Analysis of data by independent consultants indicate that resource numbers (in-place hydrocarbons) for the Green Point are much higher than for comparable basins like the Eagle Ford, due primarily to the extraordinary pay thickness of the Green Point, as a result of repetition and stacking within the formation.

The shares are trading at $0.005, and with 477 million shares outstanding, the company is capitalized at $2.4 million.

For more information on the company, please visit their website www.ShoalPointEnergy.com
contact Mark Jarvis, CEO, at 416-637-2181 ext 310 or email mjarvis@shoalpointenergy.com.

I’m Amanda Rose Schellenberg for Investmentpitch Media
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This video is for information purposes only and it not a recommendation to buy or sell any securities.