Quetzal Energy Ltd.
TSX VENTURE : QEI

Quetzal Energy Ltd.

October 09, 2009 12:57 ET

Quetzal Energy Ltd. Announces Private Placement Financing Increase

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2009) -

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

Quetzal Energy Ltd. (TSX VENTURE:QEI) ("Quetzal" or the "Company") is pleased to announce that it has increased the size of its previously announced non-brokered private placement, such that Quetzal now proposes to issue up to 80,000,000 units ("Units") at a price of $0.125 per Unit to raise aggregate gross proceeds of up to $10,000,000. All other terms of the offering remain the same as set forth in the previous press release of the Company dated October 5, 2009.

The private placement remains subject to the approval of the TSX Venture Exchange. 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Brownstone and Quetzal, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with oil and gas activities, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking 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

  • Quetzal Energy Ltd.
    Steven J. Reynolds, CEO
    20 Adelaide Street East, Suite 1102
    Toronto, Ontario M5C 2T6
    (281) 405-8216
    sjreyno@quetzalenergy.com
    or
    Quetzal Energy Ltd.
    207525 11th Ave SW
    Calgary, T2R 0C9
    (403) 294-0151
    www.quetzalenergy.com