3P International Energy Corp.

3P International Energy Corp.

August 30, 2010 16:30 ET

3P International Energy Corp. Announces $5 Million Financing

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2010) - 3P International Energy Corp. (the "Corporation" or "3P") (TSX VENTURE:DOH) is pleased to announce a financing of up to $5,000,000 by the issuance of up to 20,000,000 units ("Units") of the Corporation, at a price of $0.25 per Unit, offered on a non-brokered prospectus exempt basis. 

Each Unit will be comprised of one common share of the Corporation and one common share purchase warrant of the Corporation, each warrant exercisable for 24 months from the date of issuance at a price of $0.70. 

The Corporation expects that the private placement will close on or about September 10, 2010. The private placement is subject to TSX Venture Exchange ("TSX-V") approval and shareholder approval under the rules of the TSX-V due to the creation of new "control persons" (as defined in securities regulation).

The proceeds of the private placement will be used primarily for the development of 3P's Ukrainian energy assets, the evaluation of additional opportunities in that country and general working capital purposes.

About 3P International Energy Corp.

3P International Energy Corp. is actively seeking international energy opportunities which meet its business model criteria of discovered but undeveloped known shallow reserves in politically and business friendly climates, which can be exploited using conventional and unconventional drilling, completion and reservoir technologies.

On behalf of the Board of Directors

David Kahn, Chairman and CEO

Forward-Looking Information

This press release may contain forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. All statements that address future activities, events or developments that the Corporation believes, expects or anticipates will or may occur are forward-looking information. Forward-looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Corporation's control. There can be no assurance that outcomes anticipated in the forward-looking information will occur and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligations to update publicly or otherwise revise any forward-looking information, except as may be required by law. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Corporation's filings with the Canadian securities regulators available on www.sedar.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information