Vancouver, B.C., Canada – April 14, 2010 – Simba Energy Inc. (the “Company”) is pleased to announce that it has arranged, subject to the approval of the TSX Venture Exchange, a private placement of up to 14,285,715 units at $0.07 per unit for total gross proceeds of up to $1,000,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into an additional common share for a period of two years at a price of $0.15 per share.
The proceeds of the placement will be used for general working capital.
Finder’s fees may be payable in whole or part on the private placement in accordance with the policies of the TSX Venture Exchange.
On Behalf of the Board,
“Robert Dinning”, President and CEO
For further information, contact Robert Dinning, President and CEO of the Company at:
firstname.lastname@example.org Telephone: (604) 641-4450 Facsimile: (604) 669-9335
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE