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News
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News Releases
2008 March 20
CLOSE OF $19,665,000 FINANCING
Vancouver, March 20th, 2008 - Xemplar Energy Corp. (TSX-Venture:
XE, Frankfurt: E7R, Namibia: XEM) has completed a private placement previously
announced in Stockwatch on Feb. 29, 2008. Canaccord Capital Corp.
sold a total of 6,555,000 units at a price of $3.00 per unit for
gross proceeds of $19,665,000. Each unit consists of one common
share and one-half of one common share purchase warrant. Each whole
warrant will be exercisable into one common share for two years from
the closing date at an exercise price of $4.
As consideration to the underwriter, Xemplar has paid a commission
of 7 per cent of the total proceeds raised and issued underwriter's
warrants equal to 7 per cent of the units issued pursuant to the
offering. All of the securities issued pursuant to the offering are
subject to a hold period expiring on July 21, 2008.
Proceeds of the private placement will be used toward financing
exploration activities on Xemplar's exploration properties in
Namibia and for general corporate 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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