Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

November 17, 2006 11:38 ET

Wildcat Exploration Ltd. Completes $2.75 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 17, 2006) -

All dollar amounts are Canadian dollars unless otherwise noted.

Wildcat Exploration Ltd. ("Wildcat")(TSX VENTURE:WEL) is pleased to announce that it has completed a private placement today for gross proceeds of $2,750,000.

The company issued 7,857,150 units at a price of $0.35 per unit. Each unit consists of one flow-through common share and one-half of one non flow-through common share purchase warrant. Each whole warrant entitles 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.

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 the proceeds raised from the principal investors. Wildcat will also issue 331,314 agent's options, each option exercisable at $0.35 and entitling the agent to purchase one unit consisting of one non flow-through common share and one half of one common share purchase warrant exercisable at $0.50. 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".

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