Invicta Oil & Gas Ltd.
TSX VENTURE : IGG

Invicta Oil & Gas Ltd.

November 29, 2007 20:14 ET

Invicta Oil & Gas Ltd.: Second Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Invicta Oil & Gas Ltd. ("Invicta" or the "Company") (TSX VENTURE:IGG) announces that it has closed the second and final tranche of its previously announced non-brokered private placement. Under today's closing, the Company issued 7,528,000 common shares at a price of CDN$0.56 per common share, raising additional gross proceeds of CDN$4,215,680. All of the common shares issued today are subject to a four month hold period expiring on March 30, 2008.

Today's closing brings the total gross proceeds raised under the private placement to approximately CDN$43.2 million. The additional proceeds raised today will be used for working capital.

This news release may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements and information are based on assumptions and judgments of management of Invicta regarding future events or results and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements and information. Such risks and uncertainties include Invicta's ability to close the Private Placement and other related transactions. Invicta disclaims any intention or obligation to revise or update such statements except as may be required by law.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an exemption from registration.

Shares Outstanding: 139,174,758

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

Contact Information

  • Invicta Oil & Gas Ltd.
    Ian McKinnon
    President
    (604) 417-5875
    or
    Invicta Oil & Gas Ltd.
    Arlen Hansen
    Investor Relations
    1-866-568-9528
    Email: info@newdawngroup.com