Expedition Energy Inc.

Expedition Energy Inc.

November 18, 2005 15:29 ET

Expedition Energy Inc. Announces Closing of Second and Final Tranche of Common Share Private Placement

CALGARY, ALBERTA--(CCNMatthews - Nov. 18, 2005) - Expedition Energy Inc. (TSX VENTURE:XPD) ("Expedition") has closed the second and final tranche of a previously announced private placement resulting in the issuance of an additional 263,500 common shares at a price of $0.55 per share for gross proceeds of $144,925. After closing the second and final tranche Expedition received total gross proceeds of $616,209 from the private placement. The common shares issued pursuant to the second and final tranche of the private placement are subject to a hold period that expires on March 18, 2006. Emerging Equities Inc. acted as agent, on a best efforts basis, and received a commission equivalent to 8% of the gross proceeds of the second tranche together with an agent's option to purchase 6% of the number of common shares sold in the second tranche, at a price of $0.55 per share exercisable for a period of 12 months from November 17, 2005.

The proceeds from the private placement 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)
    Expedition Energy Inc.
    725, 435 - 4th Avenue S.W.
    Calgary, Alberta
    T2P 3A8
    QIS Capital
    Doren Quinton
    Investor Relations
    (250) 376-8989