Poplar Creek Resources Inc.
TSX VENTURE : PCK

May 16, 2012 16:54 ET

Poplar Creek Resources Inc. Announces Private Placement

CALGARY, ALBERTA--(Marketwire - May 16, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Poplar Creek Resources Inc. ("Poplar Creek" or the "Company") (TSX VENTURE:PCK) is pleased to announce a proposed private placement of up to 10 million shares at a price of $0.05 each for gross proceeds of $500,000 to a number of accredited and other investors, including participation by Company insiders. The closing of the financing is expected on or about May 31, 2012. The securities issued will be subject to a four month hold period under Canadian securities laws. Finder's fees may be payable on a portion of the financing. The financing is subject to regulatory approval.

Proceeds from the financing will be used to participate in the Sparky heavy oil play at Warspite, Alberta and general and administrative expenses.

This release includes certain statements that may be deemed "forward looking statements". All statements in this release, other than statements of historical facts, which address future activities including the closing of the financing, exploration drilling and activity, and events or developments that the Corporation intends, plans, anticipates, believes, estimates or expects are forward looking statements. Actual results may differ materially. Although the Corporation believes such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause results to differ materially from those in the forward looking statements include, but are not limited to: market conditions and difficulties of raising funds in this economic environment, availability and costing of exploration contractors; exploration success; continued availability of capital government regulations, laws and charges; environmental developments; exploitation economics; and generally the economic, market, financial and business conditions in the present volatile and uncertain economic period. Investors are cautioned that any statements are not guarantees of future performance and actual results or developments may differ materially from those stated in the forward looking statements. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Poplar Creek. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Poplar Creek Resources Inc.
    John Carruthers
    CEO
    (403) 875-1821

    Poplar Creek Resources Inc.
    Richard Edgar
    President & CFO
    (403) 616-5387