High Plains Energy Inc.
TSX VENTURE : HYE

High Plains Energy Inc.

June 03, 2005 21:37 ET

High Plains Announces Management Appointments, Private Placement and Issuance of Stock Options

CALGARY, ALBERTA--(CCNMatthews - June 3, 2005) - High Plains Energy Inc. ("High Plains" or the "Company") (TSX VENTURE:HYE) is pleased to announce the appointment of Vince Ghazar as Chief Financial Officer and Clarence (Butch) Schindel as Vice-President, Exploration. These individuals bring extensive operational and commercial expertise in the oil and gas industry which will greatly assist High Plains in pursuing a strategy focused on growth in its production and reserves. The appointments are subject to the approval of the TSX Venture Exchange.

The Company is also pleased to announce a proposed private placement of shares of the Company ("Shares") at a price of $0.75 per share. The Shares which are subject to issuance under the private placement will be subject to a four-month hold period following the closing of the private placement. It is expected that a maximum of 1,000,000 Shares are to be issued. High Plains anticipates that the private placement of Shares will be made to persons, who, at the time of closing, will be insiders of the Company and that the Company will provide financial assistance to these insiders in connection with their subscriptions. Finalization of the private placement is subject to receipt of all necessary shareholder, regulatory and stock exchange approvals.

The Company has also granted, subject to regulatory approval and entering into option agreements with the optionees, stock options to acquire a total of 665,000 Shares at an exercise price of $0.75 per Share to directors and officers of the Company. The options are to be granted under the Company's current stock option plan.

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".

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • High Plains Energy Inc.
    Ben Anderson
    President and Chief Operating Officer
    (403) 290-0078
    (403) 266-5959 (FAX)
    info@highplainsenergy.ca