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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Redcliffe Exploration Inc. | TSXV:RXP.A | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Redcliffe Exploration Inc. (TSX VENTURE:RXP.A) (TSX VENTURE:RXP.B) ("Redcliffe") is pleased to announce that it has entered into an agreement with Richardson Partners Financial Limited to issue, by way of a private placement, up to 10,000,000 flow-through Class A shares (the "Shares") on a commercially reasonable efforts basis at $0.60 per Share for gross proceeds of up to approximately $6.0 million. Proceeds from the offering will be used to incur qualifying flow-through expenditures. Closing of the offering is expected to occur on or about October 22, 2008, and is subject to the receipt of all requisite regulatory and stock exchange approvals. The securities issued under the private placement will be subject to a four month hold period from the date of closing. Redcliffe is a Calgary, Alberta based company engaged in the exploration for, and development and production of conventional crude oil and natural gas reserves in western Canada. Redcliffe's strategy is to build shareholder value through internally generated exploration and development drilling, and through selective acquisitions. Redcliffe's areas of operational focus include the Peace River Arch and Pembina areas of Alberta. Reader Advisories Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States unless an exemption from registration is available. This news release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States.
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