Wyn Developments Inc. announces private placement



    (TSX-V: WL) (OTC-BB: WYDPF) (FRANKFURT: YXE)

    VANCOUVER, Jan. 25 /CNW/ - Wyn Developments Inc ("Wyn" or the "Company")
announces a non-brokered private placement to issue up to 16 million units at
CAD $0.07 for gross proceeds of up to CAD $1,120,000. Each unit will consist
of one share and one full warrant, exercisable at $0.10 for 2 years from the
closing date of the private placement. A member of company management and a
significant shareholder have agreed to subscribe for approximately 20% of this
private placement.
    Proceeds will be used, in part, to fund Wyn's proportionate share of the
balance of the purchase price for the 12.5% non convertible over riding
royalty interest on the Prophet River 'A' and a 100% gross working interest on
the Prophet River 'B' lands. The payment by Wyn, together with proportionate
payments being made by Flying A Petroleum Ltd. ("Flying A") and Bighorn
Petroleum Ltd. ("Bighorn") will result in the three parties collectively
owning a 100% interest across the entire Prophet River property, subject only
to government royalties. Proceeds will also be used to cover testing,
equipping and tie-in of the recently drilled a-38-A/94-G-15 Bougie Trutch
Halfway development well, and on going transaction costs in connection with
the proposed amalgamation of Wyn, Flying A, Bighorn and Tenaka Drilling
Consortium Ltd (the "Amalgamating Parties").
    Since the fourth quarter of 2007, the Amalgamating Parties have been
preoccupied with securing their respective share of the above referenced
Prophet River acquisition and the a-38-A Bougie Trutch development well. Upon
completion of their respective financings and the Prophet River acquisition,
the Amalgamating Parties will be in position to return their focus to their
amalgamation. It is now evident that earlier announcements and expectations as
to the time of completion of the amalgamation have been overly optimistic,
although considerable progress has been made. It is not expected that the
respective financings being undertaken by the individual Amalgamating Parties
will impact share exchange ratios agreed upon among the parties.
    As previously announced Wyn intends to seek shareholder acceptance of the
"spin out" of its Thrust Property prospective mineral project to its
subsidiary Wyn Metals Inc concurrent with seeking shareholder acceptance of
the amalgamation. Upon such "spin out' Wyn shareholders would receive shares
of Wyn Metals Inc while at the same time receiving shares in the successor
amalgamated entity to be named Canada Gas Corp. Further announcements on the
amalgamation transaction progress and Wyn's resource property spin out will be
made as concrete milestones are achieved.
    The private placement and the proposed subsequent amalgamation are and
will be subject to TSX Venture Exchange acceptance.
    For more information on Wyn Developments please visit
www.wyndevelopments.ca.

    On Behalf of the Board,

    WYN DEVELOPMENTS INC.

    "David McMillan"
    ----------------
    David McMillan
    President & CEO


    FORWARD LOOKING STATEMENTS

    This communication to shareholders and the public contains certain
forward-looking statements. Actual results may differ materially from those
indicated by such statements. All statements, other than statements of
historical fact, included herein, including, without limitations statements
regarding future production, are forward looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.




For further information:

For further information: Chad McMillan, (604) 685-5851 or Toll Free:
(888) 685-5851, Fax: (604) 685-7349, Email: chad@urg.ca

Organization Profile

WYN DEVELOPMENTS INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890