Redcliffe Exploration Inc.
TSX VENTURE : RXP.A
TSX VENTURE : RXP.B

Redcliffe Exploration Inc.

July 09, 2009 13:57 ET

Redcliffe Announces Closing of Second Tranche of Private Placement Financing

CALGARY, ALBERTA--(Marketwire - July 9, 2009) -

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

Further to the news release dated June 30, 2009, Redcliffe Exploration Inc. ("Redcliffe" or the "Company") (TSX VENTURE:RXP.A) (TSX VENTURE:RXP.B) is pleased to announce that it has closed the second tranche of a non-brokered private placement financing, pursuant to which it has issued an additional 1,257,000 Class A shares of the Company ("Class A Shares") at a price of $0.25 per share for aggregate gross proceeds of $314,250. The Class A Shares issued pursuant to the private placement will be subject to a hold period expiring on November 10, 2009.

In aggregate, Redcliffe issued a total of 18,800,000 Class A Shares in the private placement financing for gross proceeds of $4,700,000. Redcliffe intends to use the proceeds of the private placement to fund its ongoing oil and gas activities in its core focus areas and for general working capital purposes.

Reader Advisories

Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

Neither 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 news release.

Contact Information

  • Redcliffe Exploration Inc.
    Daryl H. Connolly
    President & CEO
    (403) 539-8440
    (403) 539-8433 (FAX)
    Email: dconnolly@redcliffe.ca
    or
    Redcliffe Exploration Inc.
    George Gramatke
    Vice President, Finance & CFO
    (403) 539-8442
    (403) 539-8433 (FAX)
    Email: ggramatke@redcliffe.ca