Canoel International Energy Ltd.
TSX VENTURE : CIL

Canoel International Energy Ltd.

August 11, 2009 18:46 ET

Canoel Announces Issuance of Shares

CALGARY, ALBERTA--(Marketwire - Aug. 11, 2009) -

THIS PRESS RELEASE IS NOT TO BE DISTRIBUTED TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Canoel International Energy Ltd. ("Canoel" or the "Company") (TSX VENTURE:CIL) is pleased to announce that today it has issued and sold to subscribers, by way of a private placement under prospectus and registration exemptions, an aggregate of 657,615 common shares at a price of $0.26 per share for aggregate gross proceeds of $170,980. The Company also paid to those who assisted the Company in sourcing subscriptions for the offering cash commissions of an aggregate of $13,312 and options entitling the holders thereof purchase an aggregate of 59,031 common shares of the Company at a price of $0.26 per share on or before August 11, 2011.

Neither 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

  • Canoel International Energy Ltd.
    Andrea Cattaneo
    Chief Executive Officer and President
    (403) 629-9799
    or
    Canoel International Energy Ltd.
    James H. Grossman
    Chairman
    (403) 629-9799
    Email: info@canoelenergy.com