Longford Corporation
TSX VENTURE : LFD

December 22, 2006 18:31 ET

Longford Corporation Closes $2Million+ Private Placement

CALGARY, ALBERTA--(CCNMatthews - Dec. 22, 2006) -

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

Longford Corporation (TSX VENTURE:LFD) today announced that it has completed its previously announced private placement financing through the issuance of 6,864,000 flow through shares at $0.25 per flow through share and the issuance of 2,000,000 units at $0.25 per unit for total gross proceeds of $2,216,000 (which includes the exercise of an over-allotment of 864,000 flow through shares which remains subject to regulatory approval). Each Unit consisted of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share at a price of $0.30 until June 22, 2008. Each of the flow through shares, common shares and warrants are subject to a hold period that will expire on April 23, 2007.

Longford Corporation is a Canadian oil and gas exploration company listed on the TSX Venture Exchange under the symbol "LFD". The Company is focused on exploring for and developing North American oil and gas assets and currently has two Coal Bed Methane projects in Barrhead Alberta and Moundville Alabama.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Contact Information

  • Longford Corporation
    David Walters
    President & C.E.O.
    (403) 263-3000 x. 298