TEE Triple 8 Energy Ltd.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Triple 8 Energy Ltd. ("Triple 8" or the "Company") (TSX VENTURE:TEE) is pleased
to announce that it has completed its previously announced non-brokered private
placement (the "Private Placement") and has appointed a new management team, key
employees and board of directors (the "New Management Group"). 


Pursuant to the fully subscribed Private Placement, the New Management Group,
together with certain additional subscribers identified by the New Management
Group, subscribed for 51,500,000 units ("Units") of Triple 8 at a price of $0.06
per Unit and 112,758,714 common shares of Triple 8 ("Common Shares") at a price
of $0.06 per Common Share, for total gross proceeds of approximately $9.86
million. No "flow-through" shares were issued pursuant to the Private Placement.
Each Unit is comprised of one Common Share and one Common Share purchase warrant
("Performance Warrant") entitling the holder to purchase one Common Share at a
price of $0.10 for a period of five years. The Performance Warrants will vest
and become exercisable as to one-third upon the 20 day weighted average trading
price of the Common Shares ("Market Price") equaling or exceeding $0.12, an
additional one-third upon the Market Price equaling or exceeding $0.15 and a
final one-third upon the Market Price equaling or exceeding $0.18.


Triple 8 is also pleased to announce that, in conjunction with the Private
Placement, it completed the previously announced appointment of the New
Management Group. The New Management Group is led by Trevor Spagrud as President
and Chief Executive Officer, Doug Bailey as Chief Financial Officer, Larry
Hammond as Chief Operating Officer, Tim Gee, Vice President, Engineering and
Steve Horth, Manager, Exploration. Mr. Spagrud and Mr. Hammond were key members
of the management team of Titan Exploration Ltd. The new Board of Directors of
Triple 8 is comprised of Dan O'Niel, Rod Maxwell, Gregory Turnbull, Greg Bay and
Trevor Spagrud.


Triple 8 will have approximately 201,396,667 Common Shares outstanding at the
close of the private placement.

Grafico Azioni Triple 8 Energy Ltd. (TSXV:TEE)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Triple 8 Energy Ltd. (TSXV:TEE)
Storico
Da Lug 2023 a Lug 2024