Cobra Venture Corporation

Cobra Venture Corporation

November 19, 2007 19:05 ET

Cobra Venture Corporation Announces $300,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2007) - Cobra Venture Corporation ("Cobra") (TSX VENTURE:CBV) -

Cobra Venture Corporation (the "Corporation") announced today that it plans to complete a private placement, of up to 1,000,000 units (the "Units") of the Corporation at a price of $0.30 per Unit, for gross proceeds of up to $300,000 (the "Offering").

Each Unit will consist of one (1) common share in the capital of the Corporation issued on a "flow-through basis" and one common share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder to purchase one (1) common share of the Corporation ("Common Share") at an exercise price of $.35 per Common Share for a period of twenty-four (24) months from the closing of the Offering.

The Offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Units will be offered in certain provinces of Canada by way of private placement pursuant to applicable prospectus exemptions. The securities issued pursuant to the Offering will be subject to a four (4) month hold period. Closing of the Offering is expected to occur on or about December 14, 2007.

Net proceeds of the Offering are intended to be used by the Corporation to fund ongoing exploration programs of the Corporation.

About Cobra Venture Corporation

Cobra is an oil and natural gas production and exploration company currently producing, exploring and developing oil and natural gas interests in Pembina, Alberta, NE British Columbia and SE Saskatchewan. Cobra is actively involved in prospect generation, and secures working interests at an early stage. Through farm out and royalty agreements Cobra joint ventures with third parties to operate and develop the prospects. Cobra retains key ownership positions in multiple projects and Cobra employs this strategy to minimize shareholder dilution and maximize shareholder asset value.

Cobra Venture Corporation is an emerging energy corporation focused on the acquisition and development of strategic oil and natural gas reserves in the Western Canada. Common shares of the corporation trade on the TSX Venture Exchange under the symbol CBV.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any sate securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Cobra Venture Corporation
    Daniel B. Evans, President and CEO
    Canadian Toll Free: 1-888-888-9122
    US Toll Free: 1-888-888-9123
    (604) 922-2037 (FAX)
    QIS Capital
    Doren Quinton
    (250) 376-8989