Red Hill Energy Inc.
TSX VENTURE : RH

Red Hill Energy Inc.

June 16, 2008 09:00 ET

Red Hill Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2008) - Red Hill Energy (TSX VENTURE:RH) reports that the Company has arranged a non-brokered private placement of 3,500,000 Units at a price of $0.65 per Unit. Each Unit is comprised of one common share and one half of one share purchase warrant. Each whole share purchase warrant entitles the holder to acquire one additional common share for a period of two years at a price of $0.90.

Proceeds of the placement will be applied to the Company's forthcoming Pre-Feasibility Study on its northern Mongolian Ulaan Ovoo coal project as well as to exploration programs on its other coal assets in addition to general working capital.

ABOUT RED HILL ENERGY INC.

Red Hill Energy Inc. is a junior resource company trading on the TSX-Venture Exchange under the trading symbol RH. The Company is advancing over one billion tonnes of 100% owned coal from two Mongolian coal basins towards production. Red Hill also has multiple uranium properties and several gold and copper exploration projects located throughout Mongolia. Red Hill has a strategic alliance with Mega Uranium Ltd. to jointly develop its uranium assets and has a full-time office in Mongolia's capital, Ulaanbaatar.

RED HILL ENERGY INC.

G. Arnold Armstrong - Chairman and CEO

Ranjeet Sundher - President

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

Contact Information

  • Red Hill Energy Inc.
    Paul McKenzie
    Director
    (604) 642-COAL (2625)
    Email: info@redhillenergy.com
    Website: www.redhillenergy.com
    or
    Fuller & Associates Ltd. of London, UK
    Nick Fuller
    European Investor Inquiries
    +44 (0) 20 7256 5204