Toro Energy Limited (ASX: TOE) is pleased to advise that it has received subscription instructions from RealFin Capital Partners (RealCap) for the final $500,000 due under the Subscription Agreement dated 24 December 20131.

In accordance with the Subscription Agreement, Toro will issue approximately 8,474,576 million ordinary shares at 5.9 cents per share on receipt of the $500,000. Settlement is expected to occur within 7-10 business days.

The $500K placement completes the initial $5M commitment from RealCap.

Under the Subscription Agreement RealCap has a further option prior to 1 July 2014 to subscribe for an additional $5 million in Toro shares, priced at a 10% discount to the 30 day VWAP prior to the election to exercise.

Toro welcomes the continued support of RealCap.

Vanessa Guthrie

Managing Director

MEDIA CONTACT:

Vanessa Guthrie, Toro Energy - 08 9214 2100

Kevin Skinner, Field Public Relations - 08 8234 9555

1 RealFin Subscription Agreement terms released to the ASX on 24 December 2013Click here to download associated documents
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