Re: News Releases - Thursday, November 29, 2012
NEWS RELEASE -- PROPOSED FINANCING =======================================================================
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the
"Company") announces that further to its press release dated October 10, 2012, it will no longer be proceeding with its proposed shelf prospectus and exemptive relief application in connection with the Share Purchase Agreement (the "SPA") with YA Global Master Fund SPV Ltd.
The Company is now seeking approval from the TSX Venture Exchange to the SPA, which may require further amendments to the terms of the SPA.
As a result of not having a receipted prospectus, any shares issued pursuant to the SPA will be issued pursuant to prospectus exemptions and will be subject to a four month hold period.
ABOUT THE COMPANY
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company owns 100% of a gas producing property located in British Columbia, Canada and has interest in gas exploration and appraisal developments in Crimea, Ukraine.
On behalf of the Board of Directors
Aage Thoen, Chairman