Oil Optimization Inc. Announces Treasury Offering of Common Shares by Private Placement

Oil Optimization Inc.


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Oil Optimization Inc. Announces Treasury Offering of Common Shares by Private Placement

CALGARY, ALBERTA / ACCESSWIRE / May 5, 2014 / Oil Optimization Inc. (TSX-V: OOI) (the "Corporation") is pleased to announce that it intends to conduct a non-brokered private placement offering of up to 40,000,000 common shares (the "Common Shares") of the Corporation, at an issue price of C$0.05 per Common Share (the "Offering Price"), for gross proceeds to the Corporation of up to C$2,000,000 (the "Offering").

Closing of the Offering is expected to occur on or about June 15, 2014 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals and TSX Venture Exchange approval. All Common Shares issued pursuant to the Offering will be subject to a statutory hold period of four months from the Closing Date pursuant to applicable securities laws.

The Corporation intends to use the net proceeds from the Offering to advance the work program on its petroleum concession onshore Thailand, to evaluate prospective opportunities in Southeast Asia and for general working capital purposes.

The Common Shares will be offered in the provinces of Alberta, British Columbia and Ontario and in such other jurisdictions where the Common Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

About Oil Optimization Inc.

Oil Optimization Inc. is an international junior oil and gas exploration company based in Canada with an advanced discovery program onshore Thailand. The Corporation owns the long-term exclusive rights to onshore Block L14-50, which is subject to a farm-out agreement with Rockstone Petroleum Limited. The one million acre petroleum concession covers the entire northern section of the hydrocarbon-rich Phetchabun basin in central Thailand, which has been subject to a 200-line kilometer 2D seismic acquisition program and an extensive magnetic survey. The southern section of the basin is currently being developed by China's ECO Orient Energy Ltd (60%) (a wholly-owned subsidiary of the Hong Kong and China Gas Company Limited), Australia's Carnarvon Petroleum Limited (20%) and by Loyz Energy Limited (20%) of Singapore.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the expected activities of Oil Optimization. The forward-looking statements and information are based on certain key expectations and assumptions made by Oil Optimization. Although Oil Optimization believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Oil Optimization can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Oil Optimization undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release is intended for distribution in Canada only and is not intended for distribution to the United States newswire services or dissemination in the United States. It does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of any of the Common Shares in any jurisdiction in which such offer or sale would be unlawful. The Common Shares have not been and will not be registered under the U.S. Securities Act, or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. Person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

For additional information contact:

Luc Desmarais

President & CEO

Email: [email protected]

Website: www.oilop.com


SOURCE: Oil Optimization Inc.