February 14, 2014, Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) (“Simba”) announces that it has completed the issuance of 1,181,243 common shares at a price of deemed price of $0.06 per share in settlement of debt in the amount of $70,874.55 owed by Simba to certain creditors for past services provided by such creditors. The debt settlement was originally announced on December 18, 2013. These shares will be subject to a four month hold period which expires on May 31, 2014.
About Simba Energy:
Simba Energy Inc. is a Pan-African oil and gas exploration company with onshore PSCs in Kenya, Guinea and Chad. Simba focuses on onshore oil and gas exploration in areas that are under developed or not previously exploited.
Simba’s objective is to establish itself as a diversified international explorer and developer with a growing oil and gas acreage position with significant upside potential for shareholders.
ON BEHALF OF THE BOARD
“Robert Dinning”, President & CEO.
For further information, please contact: Mark Sommer, email@example.com, Toll Free: 1- 855-777-4622, or Paul Vonk, firstname.lastname@example.org,+44 (0) 20 7930 8678;or visit www.simbaenergy.ca; or Financial Public Relations (UK), Lionsgate Communications, Jonathan Charles, email@example.com, +44 (0)7791 892509.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.