Mirage Energy Ltd.
TSX VENTURE : MGE

Mirage Energy Ltd.

December 22, 2006 17:52 ET

Mirage Energy Ltd. Announces Increase to Previously Announced Private Placement

CALGARY, ALBERTA--(CCNMatthews - Dec. 22, 2006) - Mirage Energy Ltd. ("Mirage" or the "Company") (TSX VENTURE:MGE) is pleased to announce today the closing of the first tranche of its previously announced brokered private placement (the "Private Placement") of 597,139 units (the "Units") each Unit consisting of two (2) flow-through shares, each representing $0.55 of Canadian Development Expenses and one (1) flow through share representing $0.60 of Canadian Exploration Expenses for gross proceeds of $1,015,136.30. Additionally, pursuant to the Private Placement 1,000,000 shares representing $0.55 of Canadian Development Expenses were sold to the Norrep Performance 2005 Flow Through Limited Partnership ("Norrep") for additional gross proceeds of $550,000, for aggregate gross proceeds of $1,565,136.30.

The Private Placement was brokered by Leede Financial Markets Inc. and Blackmont Capital Inc.

The shares issued pursuant to the Private Placement are subject to a four-month hold period expiring April 23, 2007.

Proceeds of the Private Placement will be used to fund expenditures related to Mirage's exploration and development activities.

Mirage is a junior oil and gas company focused on the acquisition, exploration and development of oil and natural gas in western Canada.

READER ADVISORY

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

Contact Information

  • Mirage Energy Ltd.
    Rene La Prade
    President and CEO
    (403) 232-1359
    Email: rchfield@shaw.ca
    or
    Mirage Energy Ltd.
    Peter J. Boswell
    Chairman
    (403) 232-1359
    Email: petebos@telusplanet.net
    or
    Mirage Energy Ltd.
    800, 510 - 5th Street S.W.
    Calgary, Alberta T2P 3S2