Corridor Resources Inc.
TSX : CDH

Corridor Resources Inc.

December 14, 2006 09:02 ET

Corridor Closes $30.55 Million Financing

HALIFAX, NOVA SCOTIA--(CCNMatthews - Dec. 14, 2006) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Corridor Resources Inc. (TSX:CDH) is pleased to announce that it has closed its previously announced financing of 4,700,000 common shares at a price of $6.50 per common share for aggregate gross proceeds of $30.55 million.

RBC Dominion Securities Inc., Jennings Capital Inc., D&D Securities Company and Beacon Securities Limited were the underwriters in respect of the short form prospectus offering and received a 5% cash commission of the gross proceeds.

The net proceeds will be used by the Corporation to fund its drilling and well completion program at the McCully Field in New Brunswick, the 2007 exploration program in New Brunswick and Prince Edward Island, and for general corporate purposes.

Corridor is a junior oil and gas exploration company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward Island and Quebec and offshore in the Gulf of St. Lawrence.

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