Vancouver, B.C., Canada – April 13, 2010 – Simba Energy Inc. (the “Company”) announces that it has closed its private placement first announced on January 25, 2010. The Company issued 5,881,571 units at $0.07 per unit for total gross proceeds of $411,710. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share until March 18, 2012, a price of $0.15 per share. All securities issued under the placement are subject to hold periods expiring on July 19, 2010.
The Company paid $1,400 in finder’s fees in respect of the placement.
Proceeds of the placement will be used for general working capital.
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
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