TransAmerican Energy Inc.
TSX VENTURE : TAE
FRANKFURT : YQJ

TransAmerican Energy Inc.

October 29, 2009 13:27 ET

TransAmerican Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TransAmerican Energy Inc. (TSX VENTURE:TAE)(FRANKFURT:YQJ) (the "Company") announces that it has closed the private placement announced in a News Release dated October 6, 2009. On October 27, 2009 the Company received acceptance from the TSX Venture Exchange to close the private placement.

In accordance with the provisions of the Subscription Agreements, on October 27, 2009, the Company issued a total of 8,000,000 Units at $0.05 per Unit, each Unit consisting of one common share and one-half (1/2) share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share at $0.10 per share on or before October 26, 2010.

These shares and any shares issued on exercise of the warrants will be subject to a hold period under applicable Canadian securities laws expiring on February 28, 2010, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

The Company also paid a total of $5,000 cash as finders' fees in connection with the private placement.

ON BEHALF OF THE BOARD

Ron Hughes, President

Neither the 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

  • TransAmerican Energy Inc.
    Ron Hughes
    President
    (604) 718-2800
    (604) 718-2808 (FAX)