Expedition Energy Inc.

Expedition Energy Inc.

September 30, 2005 17:00 ET

Expedition Energy Inc. Announces Closing of First Tranche of Common Share Private Placement

CALGARY, ALBERTA--(CCNMatthews - Sept. 30, 2005) - Expedition Energy Inc. (TSX VENTURE:XPD) ("Expedition") has closed the first tranche of a previously announced private placement. Expedition issued 856,880 common shares by way of private placement at a price of $0.55 per share for gross proceeds of $471,284. Emerging Equities Inc. acted as agent, on a best efforts basis, and received a commission equivalent to 8% of the gross proceeds of the private placement together with an agent's option to purchase 6% of the number of common shares sold, at a price of $0.55 per share, expiring on September 1, 2006. A second tranche is expected to be completed during October, 2005.

The proceeds from the offering will be used to fund Expedition's exploration and development program in Alberta and Saskatchewan.

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

Contact Information

  • Expedition Energy Inc.
    Scott St. John
    President and CEO
    (403) 264-1699
    (403) 264-1499 (FAX)
    725, 435 - 4th Avenue S.W.
    Calgary, Alberta T2P 3A8