June 11, 2019 – Vancouver, BC – Renaissance Oil Corp. (“Renaissance” or the “Company”) (TSX-V: ROE) (OTCQB: RNSFF) is pleased to announce that it has issued to a company wholly-owned by Pierre Lassonde 10 million common shares of the Company (the “Shares”) at a price of C$0.20 per Share for proceeds to the Company of C$2 million (the “Investment”).
The proceeds from the Investment will be used to acquire additional oil and gas rights in Mexico, fund capital expenditures and for general corporate purposes.
The Investment is subject to final acceptance by the TSX Venture Exchange. The Shares are subject to a hold period expiring on October 11, 2019, in accordance with applicable Canadian securities laws.
Renaissance continues to make progress on its journey to become a major Mexican energy producer.