CANON CITY, CO, Feb. 11 /CNW/ - Buckingham Exploration Inc. (the "Company") (OTCBB: BUKX) announces
today that it has completed the sale to certain non-US investors on a
private placement basis of an aggregate of 35,000,000 units of the
Company at a price of $0.01 per unit (the "Offering"), for aggregate
gross proceeds of $350,000. Each unit is comprised of one share of
common stock and one-half of one common stock purchase warrant, with
each full warrant exercisable at a price of $0.10 per share for 12
months. The net proceeds from the private placement will be applied
towards the repayment of certain indebtedness of the Company to certain
non-related and related party creditors.
About Buckingham Exploration Inc.:
Buckingham Exploration is an exploration stage company whose principal
business is the acquisition and exploration of mineral resources.
Information about the business of the company can be found in its
filings with securities regulatory authorities.
This press release may contain forward-looking statements that involve
risks and uncertainties. These statements relate to future events or
our future financial performance. In some cases, you can identify
forward-looking statements by terminology including "could", "may",
"will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential" and the negative of these terms or
other comparable terminology. While these forward-looking statements,
and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our
business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other
future performance suggested in this report. Except as required by
applicable law, we do not intend to update any of the forward-looking
statements so as to conform these statements to actual results.
Investors should refer to the risks disclosed in the Company's reports
filed from time to time with the Securities and Exchange Commission and
available at www.sec.gov.
SOURCE Buckingham Exploration Inc.
For further information:
Mr. Robin Relph, President & CEO, at 604-737-0203