/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Jan. 31, 2012 /CNW/ - Emerald Bay Energy Inc. (TSX Venture:
EBY) (the "Corporation" or "Emerald Bay") today reported that the Corporation is proposing a Private Placement
offering of up to maximum of 13,000,000 common shares ("Common Shares") of the Corporation. The Common Shares are to be issued under a unit
offering whereby up to a maximum of 13,000,000 units ("Units") at a subscription price of $0.05 per Unit are to be offered. Each
Unit shall consist of one (1) Common Share of the Corporation and one
(1) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one
(1) additional Common Share of the Corporation for a period of 12
months from the issuance of the Units at a price of $0.10) (the "Offering").
The proceeds will be used for drilling wells, contributing to the
Corporation debt facilities and increasing working capital.
All of the Common Shares and Warrants issued pursuant to the Private
Placement are subject to a 4-month hold period. Completion of the
Private Placement is subject to the final approval of the TSX Venture
About Emerald Bay
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas
producer with production properties in Western Canada and South Texas.
The common shares of Emerald Bay trade on the TSX Venture Exchange
under the symbol "EBY". Please visit our website at www.emeraldbayenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Emerald Bay Energy Inc.
For further information:
Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at email@example.com,
CHF Investor Relations:
Robin Cook, Senior Account Manager, (416) 868-1079 x228, firstname.lastname@example.org.
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