SOURCE: Toro Ventures, Inc.

March 11, 2008 09:00 ET

Toro Ventures, Inc. (OTCBB: TORO) Announces Details of Proposed Private Placement

SEATTLE, WA--(Marketwire - March 11, 2008) - Toro Ventures, Inc. (OTCBB: TORO) -- Toro Ventures, Inc. is pleased to announce that it intends to effect a private placement in which it will sell 250,000 units at a price of US $2.00 per unit for gross proceeds of US $500,000 from institutional and high net worth individual investors. Each unit will consist of one common share in Toro Ventures Inc. The private placement consists of all Rule 144 restricted stock.

The Company intends to use the proceeds from this private placement for working capital to advance its project on the Crown Oil and Gas Lease.

Frederick Graham stated, "Toro is limiting this offering to only 250,000 units to get us into production on the Crown Oil and Gas lease without unnecessary dilution to our shareholders."

Toro's objective is to develop opportunities in the Oil and Natural Gas sectors that represent lower than industry average risk. As well, Toro aims to define larger projects that can be developed with Joint Venture partners. Toro is confident that these opportunities exist in a sector that holds long-term fundamental strength. By doing so Toro intends to continue building Oil and Natural Gas reserves thereby increasing capital appreciation to Toro shareholders.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.

Contact Information

  • Contacts:
    Toro Ventures, Inc.
    Investor Relations
    CEO and President
    Frederick Graham