Edgewater Exploration Ltd.

Edgewater Exploration Ltd.

November 02, 2009 18:42 ET

Edgewater Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2009) - Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:EDW) is pleased to announce it has closed a non-brokered, private placement financing of 7.5 million units at a price of $0.05 per unit for gross proceeds of $375,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share in Edgewater for a period of two years from closing at a price of $0.10 per share. There is no commission or finder's fee payable on the financing. The common shares issued will be subject to a four month hold period from closing expiring on March 3, 2010. The proceeds of the private placement will be used by the Company for general working capital.

Edgewater is a mineral exploration company and has an option on the Troy Property in north-eastern Ontario.

On behalf of the board of EDGEWATER EXPLORATION LTD.

Edward Farrauto

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Edgewater's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements

Neither 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

  • Edgewater Exploration Ltd.
    Edward Farrauto
    President, Chief Executive Officer
    (604) 687-3992