Dear Simba Energy Shareholder,
Further to the TSX Venture Exchange Bulletin dated November 3, 2016, the Exchange has been advised that the Cease Trade Order issued by the BC Securities Commission (BCSC) dated November 3, 2016 has been revoked.
Effective at the opening, Friday December 16, 2016, trading will be reinstated in the securities of the Simba Energy Inc. (SMB – TSX.V)
The TSX will officially release a bulletin later today, Thursday December, 15, 2016 that will clarify the halt being lifted and shares in Simba Energy
will return back to normal trading activity when the TSX Venture Exchange opens tomorrow at 9:30am EST (or 6:30am PST).
Furthermore, on Wednesday, December 14, 2016 the TSX released 2 clarification announcements pertaining to shares for debt. These shares were from the Private Placement that was completed last year, November 2, 2015. The majority of the shares were purchased by insiders, directors and officers of Simba Energy.
Under the rules of the TSX, shares for debt accepted by insiders, directors and officers cannot include a warrant. The original warrants at $.075 per unit that were attached to that Financing have been cancelled.
-The first amount was for 34 Million shares for Essel Group Middle East (EGME)
-The second amount was for 8.1 Million shares for directors and officers of Simba Energy.
This issue has been resolved and accepted by the TSX, IIROC and the BCSC and there will be further clarification by Simba Energy by way of a formal press release.
Please don’t hesitate to contact me if you have any questions or concerns.
Regards,
Mark
Read more at
http://www.stockhouse.com/companies/bullboard/...#ltEzPodJewfK5ZGc.99
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