Sierra Vista Energy Ltd.

Sierra Vista Energy Ltd.

March 21, 2006 17:25 ET

Sierra Vista Energy Ltd. Announces Closing of Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 21, 2006) - Sierra Vista Energy Ltd. (TSX VENTURE:SVR.A) (TSX VENTURE:SVR.B) ("Sierra Vista") announces it has closed a non-brokered private placement ("Private Placement"), consisting of an officer of the Corporation, for 100,000 Class A Common Shares of Sierra Vista (the "Shares") at $1.24 per Share.

The proceeds from this Private Placement will be used for working capital. Any securities issued will be subject to a four-month hold period from the date of closing. The Private Placement is subject to receipt of all necessary regulatory approvals.

Sierra Vista is a company listed and trading on the TSX Venture Exchange, symbol: SVR.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

Contact Information

  • Sierra Vista Energy Ltd.
    Mr. Mark Malouin
    President & Chief Executive Officer
    (403) 265-9393 ext 201
    (403) 265-9224 (FAX)
    Suite 1750, 800-6th Avenue SW
    Calgary, Alberta T2P 3G3