Cobra Venture Corporation

Cobra Venture Corporation

November 29, 2006 17:54 ET

Cobra Venture Corporation Announces Closing of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Nov. 29, 2006) - Cobra Venture Corporation (the "Corporation") (TSX VENTURE:CBV) announces that it has completed its previously announced arm's-length, non-brokered private placement of 400,000 common shares issuable on a flow through basis at a purchase price of $0.25 per common share, for gross proceeds of $100,000. The securities issued pursuant to the private placement are subject to a four (4) month hold period from the date of issuance.

The proceeds of the private placement will be used to fund the Corporation's exploration drilling and development.

Cobra is an oil and natural gas production and exploration company currently producing, exploring and developing oil and 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.

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

Contact Information

  • Cobra Venture Corporation
    Daniel B. Evans
    President and CEO
    (604) 922-2030
    Canadian Toll Free: 1-888-888-9122
    US Toll Free: 1-888-888-9123