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Private Placements
VANCOUVER, June 5, 2007 - Further to its news release of May 1, 2007, E-Energy Ventures Inc. (the "Company") wishes to re-announce that it has entered into a non-brokered private placement for the sale of 12.5 million units at a price of $0.40 for a total of $5,000,000. Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one further common share of the Company within 18 months from the date of closing. The exercise price for the warrants is $0.55 per share. The share purchase warrants shall have a term of the lesser of
- 18 months from the date of issuance of the share purchase warrant or
- 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 $1.00 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.
On behalf of the Board of Directors
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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