Westbow Energy Inc.

March 27, 2006 13:20 ET

Westbow Energy Inc. Announces Private Placement Offering Memorandum Financing

CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - Westbow Energy Inc. ("Westbow" or the "Company") (TSX VENTURE:WBW) announces that it intends to complete a non-brokered Private Placement financing via Offering Memorandum of up to $1.5 Million through the issuance of up to 1,000,000 common shares at a price of $0.75 per common share, and through the issuance of up to 833,334 flow-through common shares at a price of $0.90 per flow-through share. The Company has retained an agent in connection with the sale of the common and flow-through shares and such agent will receive a 6% cash fee in respect of gross proceeds raised by the agent and received by the Company.

Closing of the financing is expected to occur on, or about, April 28, 2006, and is subject to the approval of the TSX Venture Exchange.

The proceeds of the offering will be used to fund the Company's ongoing exploration and development drilling program.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Westbow Energy Inc.
    Daniel P. O'Neill
    President & CEO
    (403) 269-1995
    Westbow Energy Inc.
    J. L. Holloway
    Vice President Finance
    (403) 269-1995