Cygam Energy Inc.
TSX VENTURE : CYG

Cygam Energy Inc.

November 17, 2011 12:28 ET

Cygam Energy Inc. Announces Financing

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Cygam Energy Inc. ("Cygam" or the "Corporation") (TSX VENTURE:CYG) is pleased to announce that the Corporation intends to complete a non-brokered private placement (the "Private Placement") of common shares of the Corporation (the "Common Shares").

Pursuant to the Private Placement, the Corporation will issue 5,200,000 Common Shares at a price of $0.25 per share for aggregate gross proceeds of $1,300,000. It is contemplated that the subscribers to the Private Placement will be insiders of the Corporation.

Cygam intends to use the net proceeds of the Private Placement for general working capital purposes.

About Cygam Energy Inc.

CYGAM is a Calgary based exploration company with extensive international exploration permits and producing properties in Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 3.0 million gross acres. Visit the CYGAM website at www.cygamenergy.com for more information about CYGAM.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the proposal to complete the Private Placement, including statements regarding the terms and conditions of the Private Placement and the use of proceeds of the Private Placement. Readers are cautioned to not place undue reliance on forward-looking statements. Forward-looking statements are based on certain key assumptions made by the Corporation, including assumptions regarding the ultimate terms of the proposed Private Placement, the satisfaction of conditions to the completion of the Private Placement and the receipt of all regulatory and stock exchange approvals. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Private Placement, that the ultimate terms of the Private Placement will differ from those that currently are contemplated or that the Private Placement will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The forward-looking statements in this news release are made as of the date of this release and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements whether as a result of new information or otherwise, except as required by applicable securities laws. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation or its financial or operating results or (as applicable) their securities.

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

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