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Stock Market & Financial Investment News

News Breaks
March 12, 2014
08:05 EDTZAZAZaZa signs amendment to Joint Exploration Development agreement
ZaZa Energy announced that it has signed an amendment to its Joint Exploration and Development agreement with its current joint venture partner to further develop its Eaglebine/Lower Cretaceous assets in the Eagle Ford East. ZaZa will immediately assign to its joint venture partner a 75% working interest in all of the company’s remaining Phase III acreage. As consideration for this final Phase III acreage election, ZaZa will receive approximately $4.7M of upfront cash and a carry of the company’s share of future joint venture costs of up to approximately $9.2M. ZaZa received an additional $1.1M of cash from its partner related to the completion of the Range-ZaZa JV agreement. ZaZa’s JV partner also has committed to drill an additional two wells, with the first well commencing no later than July 1.
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July 21, 2014
09:12 EDTZAZAZaZa Energy announces $7.5M capital markets transaction
ZaZa Energy has entered into a $7.5M capital markets transaction with Crede Capital Group, LLC, a Los Angeles-based family office. The company plans to use the proceeds to fund additional East Texas development and lease acquisitions. The investment will be made in two phases. The closing of the first phase, which has occurred today, is for $5M gross proceeds in exchange for ZaZa common stock at a price of 83c per share. The price per share was determined by the closing price on July 17, 2014 as reported on the Nasdaq Capital Market. The transaction also includes 0.6 warrants for every share of ZaZa common stock with a strike price of $1.1205 per share, a 35% premium to such price. The second phase for $2.5M is scheduled to close on or before October 20, 2014, and also includes 0.6 warrants for every share of ZaZa common stock. The price for such additional shares shall be determined by reference to the closing price of ZaZa common stock on the day prior to such additional issuance.

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