Xemplar Energy Corp.

Xemplar Energy Corp.

March 20, 2008 07:00 ET

Xemplar Energy Corp.: Close of $19,665,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2008) -


Xemplar Energy Corp. (TSX VENTURE:XE)(FRANKFURT:E7R)(NAMIBIA:XEM) is pleased to announce the completion of the private placement previously announced on February 29th, 2008. Canaccord Capital Corporation (the "Underwriter") sold a total of 6,555,000 units (the "Units") at a price of $3.00 per Unit for gross proceeds of $19,665,000 (the "Offering"). Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share for two years from the closing date (the "Closing Date") at an exercise price of $4.00.

As consideration to the Underwriter, Xemplar has paid a commission of 7% of the total proceeds raised and issued underwriter's warrants ("Underwriter's Warrants") equal to 7% of the Units issued pursuant to the Offering.

All of the securities issued pursuant to the Offering are subject to a hold period expiring on July 21, 2008.

Proceeds of the private placement will be used towards funding exploration activities on Xemplar's exploration properties in Namibia and for general corporate purposes.

On behalf of the Board of Directors,

W. G. McDowall, President and CEO

Xemplar Energy Corp.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Xemplar Energy Corp.
    W. G. McDowall
    President and CEO
    (604) 687-4191
    (604) 871-9926 (FAX)
    Website: www.xemplar.ca