Veteran Resources Inc.

Veteran Resources Inc.

July 19, 2005 11:03 ET

Veteran Announces Closing of Private Placement

CALGARY, ALBERTA--(CCNMatthews - July 19, 2005) - Veteran Resources Inc. (TSX:VTI) is pleased to announce that the previously announced bought deal private placement offering of flow-through common shares at a purchase price of $1.55 per flow-through common share through Canaccord Capital Corporation ("Canaccord") closed on July 19, 2005. The offering was over subscribed and Canaccord exercised its over allotment option in full, resulting in the issuance of an aggregate of 4,000,000 common shares and gross proceeds to the Company of $6.2 million. The Company intends to utilize the proceeds from the offering primarily for an exploration program in the Company's Peace River Arch Focus area and for continued exploration on its current properties.

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

Contact Information

  • Veteran Resources Inc.
    Philip J. Loudon
    President and Chief Executive Officer
    (403) 699-8629
    Veteran Resources Inc.
    J. Peter Henry
    Vice President and Chief Financial Officer
    (403) 699-8632