Core Viewpoint - New Zealand Energy Corp. has successfully completed a non-brokered private placement of common shares, raising gross proceeds of C$2,718,640, and has settled outstanding debts through share issuance [1][2][3] Group 1: Private Placement Details - The company issued 15,103,556 common shares at a price of C$0.18 per share [1] - The proceeds will be used for the Tariki gas storage project, debt settlement with Vliet, and general working capital [2] - All common shares issued are subject to a hold period expiring on November 19, 2025 [2] Group 2: Debt Settlement - NZEC settled a debt of $300,000 to Charlestown Energy Partners by issuing 1,666,667 common shares at a deemed price of C$0.18 per share [1] - The company also issued 1,000,000 common shares to Vliet to terminate an outstanding loan of C$2,000,000 plus accrued interest [1][2] Group 3: Related Party Transactions - The private placement and debt settlement involve related parties, including directors of NZEC and companies controlled by them [3] - Charlestown's ownership increased from approximately 8.63% to 11.87% of the total issued shares post-transaction [4] - Frank Jacobs, a director, saw his ownership decrease to approximately 8.41% after the transaction [5]