Vancouver, British Columbia, October, 24, 2011.SIMBA ENERGY INC TSXV: SMB
Simba To Re-price Warrants
October 25, 2011, Vancouver, B.C., Canada. Simba Energy Inc. (the “Company”) (TSXV: SMB, Frankfurt: GDA, OTCCBB: SMBZF), announces, subject to Exchange approval, the Board of Directors intend to re-price 21,161,250 share purchase warrants issued on January 20, 2011. The warrants were issued pursuant to a private placement of 42,322,500 units at $0.08 per unit, each unit consisting of one common share and one-half of one share purchase warrant, each whole warrant exercisable into one common share at $0.16 per share until January 20, 2012. Upon acceptance of the TSX Venture Exchange, the new exercise price of the warrants will be $0. 11 with the expiry date remaining at January 20, 2012.
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company strategically focusing on underexplored overlooked basins in its pursuit of hydrocarbon opportunities in Africa (currently Liberia, Mali, Ghana, Guinea, Kenya and others). The region has shown increased promise for development of new hydrocarbon deposits. On behalf of its shareholders the Company’s Senior Management Team have endeavoured to leverage their expertise and affiliations to pursue, secure and develop strategic assets that demonstrate high potential for drilling and or production operations; and to do so in a manner of best practices and to the betterment of those communities where we work.
ON BEHALF OF THE BOARD
“Robert Dinning”, President & CEO
We seek safe harbour.
“Neither 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.” This document includes forward- looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although Simba Energy Inc. believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements”