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News
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News Releases
2008 February 29
XEMPLAR ENERGY ARRANGES $10-MILLION FINANCING
Vancouver, February 29th, 2008 - Xemplar Energy Corp. (TSX-Venture:
XE, Frankfurt: E7R, Namibia: XEM) has arranged a bought-deal private
placement with Canaccord Capital Corp. of 3,334,000 units at a price
of $3 per unit for gross proceeds of $10,002,000. A unit will
consist of one common share and one-half of one common share
purchase warrant. Each whole warrant will entitle the holder to
subscribe for one additional common share at a price of $4 for a
period of 24 months from the date of closing.
As consideration to the underwriter, Xemplar has agreed to pay a
commission of 7 per cent of the total proceeds raised upon closing
and issue underwriter warrants equal to 7 per cent of the units
issued pursuant to this offering.
The company has also granted the underwriters an overallotment
option to increase the offering by up to 1,667,000 units
($5,001,000), exercisable 48 hours prior to closing.
The company intends to use the net proceeds from the offering to
advance the company's mineral projects in Namibia and for general
working capital purposes.
On behalf of the Board of Directors,
Xemplar Energy Corp
“W.G. McDowall”
President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
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