Ivory Energy Inc.: Particulars of Completed Flow-Through Financing

Ivory Energy Inc. (TSX VENTURE:IV) is pleased to confirm that pursuant to the
closing of its previously announced flow-through private placement of 1,965,200
units at a price of $0.75 per unit for gross proceeds of $1,473,900, it issued
and sold an aggregate of 1,965,200 common shares and 982,598 warrants. Each
common share was issued on a "flow-through" basis pursuant to the Income Tax Act
(Canada), and each warrant is exercisable into one additional Ivory common share
(which will not be issued on a "flow through" basis) on or before December 27,
2008 at a price of $1.00 per share. The common shares and warrants issued at
closing, as well as any common shares issued on the exercise of warrants, are
subject to a four-month "hold" period under applicable regulatory policies. The
hold period expires on April 28, 2008. Insiders subscribed for a total of
494,333 units of the financing (representing approximately 25% of the
financing). Total finder's fees of $57,000 (being 6% of the proceeds raised from
certain purchasers) were paid in connection with the closing of the offering,
representing approximately 3.9% of the total proceeds raised.