Redcliffe Exploration Inc.
TSX VENTURE : RXP.A
TSX VENTURE : RXP.B

Redcliffe Exploration Inc.

September 08, 2008 17:35 ET

Redcliffe Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Sept. 8, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

Redcliffe Exploration Inc. (TSX VENTURE:RXP.A) (TSX VENTURE:RXP.B) ("Redcliffe" or the "Company") is pleased to announce the commencement of a normal course issuer bid (the "Bid") pursuant to the bylaws, rules and policies of the TSX Venture Exchange (the "TSX-V"). Subject to regulatory approval, the Bid will commence on September 15, 2008 and will expire on September 14, 2009 unless terminated earlier by the Company. Pursuant to the Bid, the Company may acquire up to an aggregate of 3,282,574 Class A shares, representing 5% of the 65,651,488 Class A shares issued and outstanding at September 8, 2008.

It is the Company's intention to acquire the Class A shares at prices that represent a discount to their underlying net asset value. Class A shares acquired will be subsequently cancelled. The objective is to provide capital appreciation and market stability for the benefit of the Company's shareholders. Purchases under this issuer bid will be carried out by FirstEnergy Capital Corp. through the facilities of the TSX-V.

Reader Advisories

Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Redcliffe Exploration Inc.
    Daryl H. Connolly
    President & CEO
    (403) 539-8440
    (403) 539-8433 (FAX)
    Email: dconnolly@redcliffe.ca
    or
    Redcliffe Exploration Inc.
    George Gramatke
    Vice President, Finance & CFO
    (403) 539-8442
    (403) 539-8433 (FAX)
    Email: ggramatke@redcliffe.ca