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News
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News Releases
Private Placements
Vancouver, May 1, 2007 - E-Energy Ventures Inc. (the "Company") wishes to
announce that it has entered into a non-brokered private placement for the sale
of 10 million units at a price of $0.50 for a total of $5,000,000. Each unit
will consist of 1 common share and 1 non-transferable share purchase warrant for
the purchase of 1 further common share of the Company within 18 months from the
date of closing. The exercise price for the warrants is $0.75 per share. The
share purchase warrants shall have a term of the lesser of (i) 18 months from
the date of issuance of the share purchase warrant or (ii) the period ending on
the tenth business day following 20 consecutive trading days (individually, a
"Consecutive Day") that the market price of the shares as traded on the TSX
Venture Exchange has closed equal to or greater than $1.25 per share. All of
these units are subject to a four-month hold period from the date of closing and
item (ii) shall not apply during the hold period. The proceeds from this private
placement will be used for exploration programs and for working capital
purposes. The maximum allowable finder's fee shall be payable. The transaction
is subject to regulatory approval.
E-ENERGY VENTURES INC.
Simon Tam, Director
Disclaimer:
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT
CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN
ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING
STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND
UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
SET FORTH IN OR IMPLIED HEREIN.
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