Echo Energy Canada Inc.

Echo Energy Canada Inc.

October 28, 2005 12:59 ET

Echo Energy Canada Inc. News Release

TORONTO, ONTARIO--(CCNMatthews - Oct. 28, 2005) - Echo Energy Canada Inc. (TSX VENTURE:EEI) (Tier 1) is pleased to announce that it has completed private placements of flow-through common shares to a number of investors for gross proceeds of approximately $500,000 at an issue price of $1.25 per share. The proceeds of the private placements will be used for eligible expenditures in connection with the further exploration of Echo's gas leases in Bayham Township, in southwestern Ontario.

The private placements are subject to final acceptance by the TSX Venture Exchange. All shares issued under the private placements are subject to resale restrictions under applicable securities laws and the policies of the TSX Venture Exchange, which shall expire February 19, 2006.

About Echo Energy Canada

Echo Energy Canada is engaged in the exploration, development and production of natural gas on its gas leases situated near Port Burwell Ontario, Canada on the shores of Lake Erie. The company owns and operates its own natural gas pipeline and a compressor station and it holds gas and oil leases comprising approximately 50,000 acres in the area. Echo has 49 producing gas wells and an additional 21 wells which are either undergoing fracturing or awaiting fracturing.

Echo Energy Canada Inc. has equity interests in Echo Power Generation Inc. and Twenty Two Degree Energy Corp., which are involved in wind energy exploration projects in Ontario, near Lake Erie and near Lake Huron, respectively.

Issued Common Shares: 51,599,515.

Neither the TSX Venture Exchange nor any securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Echo Energy Canada Inc.
    Gary Conn
    President and C.E.O.
    (519) 455-8127
    Echo Energy Canada Inc.
    Joseph Fuda
    (416) 364-6513 ext 227