LongBow Energy Corp.
TSX VENTURE : LBV

LongBow Energy Corp.

December 14, 2006 13:44 ET

LongBow Energy Corp. Plans $1-Million Flow-Through Financing

Mr. Sean Kehoe reports: LONGBOW ENERGY CORP. ANNOUNCES $1 MILLION FLOW-THROUGH SHARE FINANCING

CALGARY, ALBERTA--(CCNMatthews - Dec. 14, 2006) - LongBow Energy Corp. (TSX VENTURE:LBV) has authorized, subject to regulatory approval, a non-brokered private placement of up to 18,181,819 common shares issued on a flow-through basis at a price of $0.055 per flow-through share for total gross proceeds of approximately $1 million. All securities issued pursuant to this private placement will be subject to a four month hold period, commencing on closing of the offering.

The Company has also reserved an over-allotment option to increase by up to 50% the number of flow-through common shares offered to subscribers.

The private placement financing is scheduled to close on or about December 29, 2006, and is subject to customary closing conditions, including the approval of the TSX Venture Exchange.

The proceeds from the issuance of the flow-through shares will be used to finance continued exploration of LongBow's oil and natural gas properties in western Canada and the Canadian exploration expenses incurred by LongBow will be renounced to subscribers for flow-through shares with effect on or prior to December 31, 2006.

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

Contact Information

  • LongBow Energy Corp.
    Sean Kehoe
    (403) 233-6073
    (403) 269-2686 (FAX)