New Zealand Energy Corp announced a non-brokered private placement to issue 6,000,000 common shares of the Company at a price of CAD 0.75 per share for gross proceeds of up to CAD 4,500,000 on March 21, 2024. The transaction expected to close on April 5, 2024. The Private Placement is subject to approval of the TSX Venture Exchange.

A finder's fee of up to 5% of the gross proceeds of the Private Placement may be paid on all or any portion of the Private Placement. Additionally, finder's warrants may be issued in an amount up to 1% of the number of Common Shares sold under the Private Placement. Each finder's warrant may be exercised to acquire one Common Share at a price of CAD 0.75 per share for a period of 18 months from the closing.

All securities issued in connection with the Private Placement will be subject to a hold period of four months plus one day from the date of closing.