Poplar Creek Resources Inc.
TSX VENTURE : PCK

December 30, 2009 09:30 ET

Poplar Creek Resources Inc. Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Dec. 30, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Poplar Creek Resources Inc. (the "Corporation") (TSX VENTURE:PCK) intends to complete a non-brokered private placement (the "Private Placement") of 1,904,761 common shares of the Corporation ("Common Shares") at an issue price of $0.105 per Common Share issued on a "flow through" basis within the meaning of the Income Tax Act (Canada) for total gross proceeds of $200,000.

Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. Closing of the Private Placement is expected to occur by the end of the month.

The Corporation intends to use the proceeds from the Private Placement to fund a portion of its working capital requirements.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to the Corporation's completion of the Private Placement and the use of proceeds from the Private Placement. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information includes management's ability to raise gross proceeds of $200,000 and the failure to obtain final approval from the TSX Venture Exchange. Although the Corporation believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

  • Poplar Creek Resources Inc.
    John Carruthers
    CEO
    (403) 875-1821
    or
    Poplar Creek Resources Inc.
    Richard Edgar
    President
    (403) 616-5387