Homeland Energy Group Ltd.

Homeland Energy Group Ltd.

December 07, 2009 09:19 ET

Homeland Energy Group Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2009) - Homeland Energy Group Ltd. (TSX:HEG) ("Homeland" or the "Company") wishes to announce that it has completed the private placement previously announced on November 18, 2009 with GMR Energy Limited ("GMR"). Consequently, a total of 27,465,068 common shares of Homeland were issued at $0.07 per Common Share to GMR.

The Company is continuing to pursue additional sources of capital to meet the balance of its obligations and will provide updates when available.

Homeland Energy Group Ltd. (TSX:HEG) is a coal producer with operations in the Witbank area of South Africa. The company also has a large-scale development property in South Africa and exploration interests in Southern Africa. Homeland will continue to seek out interests in additional coal projects in South Africa and neighbouring countries as well as internationally. Homeland is a shareholder in Homeland Uranium Inc., a Canadian uranium exploration company focused on projects in Niger and the United States. Homeland Energy Group Ltd. is currently traded on the Toronto Stock Exchange under the symbol "HEG" with 302,115,756 common shares issued and outstanding. www.homelandenergygroup.com.

Please visit www.homelandenergygroup.com

Contact Information