NuLoch Resources Inc.
TSX VENTURE : NLR.A
TSX VENTURE : NLR.B

NuLoch Resources Inc.

March 27, 2008 13:21 ET

NuLoch Resources Closes $10.0 Million Equity Financing

CALGARY, ALBERTA--(Marketwire - March 27, 2008) -

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

NuLoch Resources Inc. ("Nuloch") (TSX VENTURE:NLR.A) (TSX VENTURE:NLR.B) announces that it has closed its previously announced $10.0 million equity financing. GMP Securities L.P. acted as agent and the offering was fully subscribed.

In total, NuLoch has issued, by way of private placement, 3,334,000 Class A flow-through common shares at $1.20 per share and 6,316,000 Class A common shares at $0.95 per share for gross proceeds of $10,001,000. The shares will be subject to a four month hold period which will expire on July 28, 2008. Nuloch now has 30,779,695 Class A common shares issued and outstanding.

Paramount Resources Ltd., a Canadian oil and natural gas exploration, development and production company, subscribed for 692,970 Class A flow-through common shares and 5,447,579 Class A common shares to hold 19.95 percent of NuLoch's Class A common shares.

Proceeds from this offering will be used to fund NuLoch's capital program and for general corporate purposes.

The Class A common shares of NuLoch have not 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 in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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

Contact Information

  • NuLoch Resources Inc.
    R. Glenn Dawson
    President and CEO
    (403) 920-0455
    (403) 920-0457 (FAX)
    Email: nuloch@nuloch.ca
    or
    NuLoch Resources Inc.
    2200, 444 - 5th Avenue SW
    Calgary, Alberta T2P 2T8