Oyster Oil and Gas Ltd. (TSXV:OY) announced a private placement of 2,000,000 units at CAD 0.20 per unit for gross proceeds of CAD 400,000 on January 13, 2017. The company entered into a subscription agreement with new investor Gunsynd Plc for subscription of 1,000,000 units in the transaction. The transaction will also include participation from existing investors.

Each unit consists of one common share and one common share purchase warrant. Each share purchase warrant will be exercisable for one share at CAD 0.27 per share up to January 20, 2018. The transaction may be brokered or non-brokered and commissions and/or finder's fees in cash or securities may be payable in connection with the transaction.

The transaction is subject to Exchange acceptance. The securities issued pursuant to the transaction will be subject to a hold period as required under applicable securities legislation.