Eaglewood Energy Inc.
TSX VENTURE : EWD

Eaglewood Energy Inc.

July 15, 2008 13:47 ET

Eaglewood Energy Inc. Announces Filing of Preliminary Prospectus

CALGARY, ALBERTA--(Marketwire - July 15, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

Eaglewood Energy Inc. (the "Corporation") (TSX VENTURE:EWD) has filed a preliminary short form prospectus for a public offering (the "Offering") on a fully marketed best efforts basis of common shares (the "Common Shares") to be led by Paradigm Capital Inc. and including Tristone Capital Inc., CIBC World Markets Inc. and Blackmont Capital Inc. (the "Agents").

In addition, the Corporation has granted the Agents an option to sell up to an additional 15% of the number of Common Shares sold by the Corporation, exercisable at any time up to 30 days after the closing of the Offering.

The net proceeds of the Offering are to fund the Corporation's 2008/2009 capital program and for general corporate purposes.

Final pricing and determination of the number of Common Shares to be sold pursuant to the Offering will occur immediately prior to the filing of the (final) short form prospectus in respect of the Offering.

The Offering is subject to certain conditions, including final due diligence and regulatory approval.

A preliminary prospectus containing important information relating to the Offering has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from the Chief Financial Officer of the Corporation, at 415, 816 - 7th Ave. SW, Calgary, Alberta T2P 1A1, Telephone (403) 264-6944, and it is anticipated that the preliminary prospectus will be available electronically at www.sedar.com shortly There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the (final) prospectus has been issued.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

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

Contact Information

  • Eaglewood Energy Inc.
    Hal Hemmerich
    CEO
    (604) 307-7099
    or
    Eaglewood Energy Inc.
    Arlene Weatherdon
    CFO
    (403) 264-6944