High Plains Energy Inc.

High Plains Energy Inc.

March 11, 2005 18:24 ET

High Plains Announces Completion of Board Restructuring


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HIGH PLAINS ENERGY INC.

TSX VENTURE SYMBOL: HYE

MARCH 11, 2005 - 18:24 ET

High Plains Announces Completion of Board Restructuring

CALGARY, ALBERTA--(CCNMatthews - March 11, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

High Plains Energy Inc. (TSX VENTURE:HYE) ("High Plains" or the
"Company") announced that it has completed the previously announced
strategic restructuring of its board of directors. Walter A. Dawson,
Jeffrey J. Scott, Ben Anderson and Scott Wilson have joined John Gerlitz
on the board of directors of High Plains.

Messrs. Michael Williams, Philip Grubbe, Hermen Leith and John Newman
have each resigned in their capacities as directors and officers of High
Plains.

The Company has received conditional TSX Venture Exchange approval for
its proposed private placement of up to 4 million units of the Company
("Units") at a price of $0.60 per Unit. Each Unit is to consist of one
common share of the Company ("Share") and one share purchase warrant
("Warrant"), each Warrant entitling the holder thereof to purchase one
common share of the Company ("Warrant Share") at an exercise price of
$0.70 per Warrant Share for a period of two years after the closing of
the private placement. The Shares and Warrant Shares made subject to
issuance under the private placement will be subject to a four-month
hold period following the closing of the private placement. The
completion of the private placement remains subject to the final
approval of TSX Venture Exchange including filing of materials prior to
closing.

High Plains is a junior oil and gas company engaged in the exploration,
development and production of natural gas and oil reserves in Alberta,
Saskatchewan and Montana.

High Plains trades on the TSX Venture Exchange under the symbol "HYE".

This press release does not constitute an offer to sell or the
solicitation of any offer to buy securities in any jurisdiction. The
securities of the issuer have not been and are not being registered
under the United States Securities Act of 1993, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or
sold in the United States except in certain transaction exempt from the
registration requirements of the U.S. Securities Act and applicable laws.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    High Plains Energy Inc.
    Ben Anderson
    (403) 290-0078
    (403) 266-5959 (FAX)
    Email: info@highplainsenergy.ca
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.