Wildcat Exploration Ltd.

Wildcat Exploration Ltd.

November 08, 2006 17:26 ET

Wildcat Exploration Ltd. Announces $2.75 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 8, 2006) - Wildcat Exploration Ltd. ("Wildcat") (TSX VENTURE:WEL) is pleased to announce that it intends to complete a private placement for gross proceeds of up to $2.75 million.

The company intends to issue up to 7,857,143 units at a price of $0.35 per unit. Each unit will consist of one flow-through common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional non flow-through common share at an exercise price of $0.50 for a period of one year following the closing date.

The private placement is expected to close on or before November 13, 2006. The closing of the private placement is subject to, amongst other things, approval of the TSX Venture Exchange and completion of definitive documentation. All securities issued pursuant to the private placement will be subject to a four month hold period following the closing date.

Wildcat will pay finders' fees in respect of the private placement in an amount equal to 5% of gross proceeds raised pursuant to the private placement and will also pay certain fees of the principal investor. Wildcat will also issue up to 285,714 agent's options, each option entitling the agent to purchase one unit consisting of one non flow-through common share and one half of one common share purchase warrant. All agent's options will expire 2 years from the date of issue.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Wildcat Exploration Ltd
    Sol Prizant
    President and CEO
    (204) 944-8916
    (204) 944-8918 (FAX)
    Email: s.prizant@wildcat.ca