MONTREAL, June 5 /CNW Telbec/ - Rolland Energy Inc. (TSX-V: ROE, the
"Corporation"), an emerging junior oil and gas producer, announced today that
it has raised gross proceeds of $282,000 through a private placement of
1,879,999 common shares (the "Shares") and warrants to purchase 1,879,999
common shares (the "Warrants"). The private placement will close tomorrow,
June 6, 2007. The Shares are to be issued at a price of $0.15. The Warrants
have an exercise price of $0.25 for the first year following the closing date
and $0.50 for the second year following the closing. Proceeds from the
financing will be used for general working capital. No insiders of the Company
participated in the private placement.
"This financing will help pay for the tangible expenses associated with
the drilling activities that do not qualify as flow-through expenses," said
Martial Rolland, President and Chief Executive Officer of the Corporation. "We
will have more flexibility in executing our business plan to increase our
light crude oil production," added Martial Rolland.
ABOUT ROLLAND ENERGY INC. - www.rollandenergy.com
Rolland Energy is a light crude oil producer based in south-western
Manitoba, building shareholder value through growth by combining low-risk
drilling and strategic acquisitions.
"The TSX Venture Exchange has not reviewed this release and therefore
does not accept responsibility for its adequacy or accuracy."
For further information:
For further information: Martial Rolland, (514) 333-9292