Border Petroleum Inc.
NEX BOARD : BOP.H

November 06, 2009 14:34 ET

Border Announces Completion of Financing

CALGARY, ALBERTA--(Marketwire - Nov. 6, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Border Petroleum Inc. (NEX:BOP.H) ("Border" or the "Corporation") announces that it has completed the second closing of its previously announced private placement involving the issuance of 820,000 units at a price of $0.05 per unit for gross proceeds of $41,000 (the "Private Placement"). Each unit (the "Unit") consisted of one common share ("Common Share") and one half of one share purchase warrant (the "Warrants"), with each whole Warrant entitling the holder thereof to purchase one common share at a price of $0.10 per share for a period of one year from the date of closing. The Private Placement was fully subscribed and the Corporation received total gross proceeds of $750,000.

The Common Shares and Warrants underlying the Units issued pursuant to the second closing of the Private Placement are subject to a hold period until March 6, 2010, in accordance with applicable securities law.

About Border

Border is a Calgary, Alberta based oil exploration company.

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

Contact Information

  • Border Petroleum Inc.
    Tyler Cran
    Director
    (403) 538-8441