Bountiful Resources Inc.

March 29, 2005 18:30 ET

Bountiful Resources Inc. Announces Closing of $30mm Equity Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BOUNTIFUL RESOURCES INC.

MARCH 29, 2005 - 18:30 ET

Bountiful Resources Inc. Announces Closing of $30mm
Equity Financing

CALGARY, ALBERTA--(CCNMatthews - March 29, 2005) - Bountiful Resources
Inc. is pleased to announce the closing of a private placement equity
financing for $30 million (the "Financing"). ARC Energy Venture Fund 4
was the lead investor and participated for $15 million in the Financing.
The net proceeds of the financing will be used to fund Bountiful's
exploration, development and acquisition activities in the central and
northwest areas of Alberta. Resource Capital Partners Inc. acted as
financial advisors to Bountiful on the Financing.

The management team of Bountiful and their respective positions are as
follows:



Eric G. Panchy President and CEO
Harold (Hal) R. Jamieson Vice President, Engineering and
Chief Operating Officer
Cameron (Cam) J. Bogle Vice President, Land
Ying Yuen Chief Financial Officer
Noel G. Panchy Manager, Exploration


Bountiful Resources Inc. is a private oil and gas exploration,
development and production company located in Calgary, Alberta.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Bountiful Resources Inc.
    Eric G. Panchy
    President and CEO
    (403) 503-1297