Edge Resources Inc.

Edge Resources Inc.

March 04, 2010 17:12 ET

Edge Resources Increases and Closes Its Previously Announced Financing

CALGARY, ALBERTA--(Marketwire - March 4, 2010) - Edge Resources Inc. (TSX VENTURE:EDE) ("Edge") is pleased to announced that it has increased the size of its previously announced private placement financing. The updated private placement consisted of 4,066,997 units at a price of $0.15 per unit, for gross proceeds of $609,050 (the "Offering"). Each unit consists of one Class "A" common share in the capital stock of the Edge (each a "Common Share") and one common share purchase warrant with each warrant being exercisable into one Common Share upon payment of $0.20 per share for a period of one year. Pursuant to the Offering Edge paid a commission of 7% of the proceeds secured by Maxwell Merchantile Inc. ("Maxwell") in Common Shares and finder warrants equal to 7% of the aggregate number of Units secured by Maxwell, with each finder warrant exercisable into one common share upon payment of $0.20 for a period of one year from the date of closing.

Securities to be issued pursuant to the Offering are subject to a four-month hold period from the date of closing. Proceeds from the Offering will be used for general working capital purposes. The private placement is subject to final regulatory and TSX Venture Exchange approval.

About Edge Resources Inc.

Edge is focused on the development of natural gas from the Edmonton Sands group of formations, a conventional, shallow gas group of reservoirs located in Central Alberta, Canada. The Edmonton Sands ranks as one of the lowest-cost natural gas plays in North America. The Management Team's very high success rate is based on the safe, efficient deployment of capital and a proven ability to efficiently execute in shallow gas, specifically the Edmonton Sands, which gives Edge a sustainable, low-cost, competitive advantage.

The Alberta Government estimates that there is 44 trillion cubic feet ("TCF") of non-producing, shallow natural gas in Alberta. Edge' management team has evaluated over 20,000 sections of land and has identified over 200 "five-star" sections. The Edge's development program focuses primarily on pursuing these highly prospective opportunities.

Trading in the securities of Edge Resources Inc. should be considered highly speculative.

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.

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