TRAFINA Energy Ltd.

TRAFINA Energy Ltd.

November 28, 2008 14:38 ET

TRAFINA Energy Ltd. Completes Previously Announced Private Placements

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) -


TRAFINA Energy Ltd. ("TRAFINA" or the "Corporation") (TSX VENTURE:TFA.A) is pleased to announce that it has completed its previously announced brokered private placement of 4,700,000 Class A common shares issued on a flow-through basis at a price of $0.43 per share for total proceeds of $2,021,000. Directors of the Corporation indirectly purchased an aggregate of 465,000 flow-through shares pursuant to the brokered private placement. Wolverton Securities Ltd. and Acumen Capital Finance Partners Limited as underwriters were paid a cash commission equal to 5% of the total proceeds. The proceeds from the sale of the flow-through shares will be used to incur eligible Canadian exploration expenses ("CEE") and Canadian development expenses (as defined in the Income Tax Act (Canada)) which will be renounced as CEE in favour of the subscribers for the 2008 taxation year.

The Corporation is also pleased to announce that it has completed its previously announced private placement sale of an aggregate of 800,000 Class A common shares to TRAFINA's President and Chief Executive Officer and Chief Financial Officer at a price of $0.40 per share for total proceeds of $320,000. The proceeds from the sale of the shares will be used to fund the tie-in of certain coal-bed methane wells in the Wetaskiwin area of Alberta and for general working capital purposes.

The shares issued pursuant to the private placements are subject to a four-month hold period, expiring March 29, 2009. TRAFINA now has outstanding 11,202,472 Class A common shares.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or applicable exemption from the registration requirements.

TRAFINA is a junior oil and gas company based in Calgary, Alberta. It is primarily a natural gas producer, with its main areas of interest being in Wetaskiwin, Jenner, Carson Creek/ Judy Creek and Bindloss; all of which are located in Alberta. TRAFINA's shares trade on the TSX Venture Exchange under the stock symbol TFA.A.

Forward Looking Statements: This news release contains forward looking statements based on management's current expectations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by TRAFINA at the time of preparation, may prove to be incorrect. The forward looking statements contained in this news release are made as at the date of this news release and, except as required by applicable securities laws, TRAFINA does not undertake any obligation to update any such statements.


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

Contact Information

  • TRAFINA Energy Ltd.
    Kelly J. Ogle
    President and Chief Executive Officer
    (403) 263-0800
    (403) 263-0811 (FAX)
    TRAFINA Energy Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)