Warrior Energy N.V.

Warrior Energy N.V.

March 24, 2010 19:53 ET

Warrior Energy N.V. Announces an Increase in Share Capital and the Closing of the Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Warrior Energy N.V. (the "Company" or "Warrior") (TSX VENTURE:WEN) is pleased to announce that on March 12, 2010, the Company's Articles of Association were amended to increase the Company's authorized share capital to six million euro (EUR 6,000,000), divided into forty million (40,000,000) common shares of fifteen cents (EUR 0.15) each.

The Company is also pleased to announce that the Non-Brokered Private Placement (the "Private Placement") previously announced on January 5, 2010 has been accepted by the TSX Venture Exchange (the "Exchange") and has now closed. The Private Placement consists of 5,000,000 flow through units at a price of CDN$0.105 per unit for total proceeds of CDN$525,000. Each unit is comprised of one flow though common share in the capital stock of the Company and one non-transferable flow through share purchase warrant (the "Warrant"). Each Warrant entitles the holder to acquire a further flow through common share of the Company at a price of CDN$0.14 per common share for a period of 5 years expiring on March 18, 2015. The common shares issued under the placement are subject to a four month hold period expiring on July 19, 2010 under applicable securities laws and imposed by the Exchange.

Proceeds of the Private Placement will be used for exploration and development of the Company's oil and gas properties in Canada.

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 news release.

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