E4 Energy Inc.

E4 Energy Inc.

October 20, 2005 11:33 ET

E4 Energy Announces Completion of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Oct. 20, 2005) -

Not for distribution to the United States newswire services or for dissemination in the United States.

E4 Energy Inc. (TSX VENTURE:EFE) ("E4" or the "Company") today is pleased to announce the closing of the previously announced $10,273,850 "bought deal" private placement. The company has issued 2,662,000 E4 common shares at $1.90 per share and 2,129,000 E4 flow-through shares at $2.45 per share. The shares issued under this offering will be subject to a hold period of four months from closing. At this time, E4 Energy now has a cash balance of approximately $2.0 million.

The financing was led by Canaccord Capital Corporation and included Tristone Capital Inc., Dundee Securities Corp. and Blackmont Capital Inc.

Proceeds of the offering will be used to fund the company's expanded 2005 and 2006 capital program.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The common shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act.

E4 Energy Inc. is a junior oil and gas company engaged in the exploration for, and development and production of natural gas and crude oil reserves primarily in the provinces of British Columbia and Alberta. E4's common shares trade on the TSX Venture Exchange under the symbol "EFE".

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

Contact Information

  • E4 Energy Inc.
    Paul Starnino
    President and Chief Executive Officer
    (403) 266-6747
    E4 Energy Inc.
    Franco Civitarese
    Vice President Finance and Chief Financial Officer
    (403) 266-6747