Socius CG II Ltd. Announcement

"Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available".

TORONTO, Feb. 15, 2012 /CNW/ - Socius CG II Ltd. ("Socius") announced that on February 10, 2012 it subscribed for units consisting of 13,353,038 ordinary shares ("Shares") and 6,676,519 ordinary share purchase warrants ("Warrants") of Xcite Energy Limited (the "Company") pursuant to a private placement (the "Offering").

Each whole Warrant entitles the holder to acquire one ordinary share of the Company at an exercise price of £1.14 per share for a period of three years from the date of issue.

After giving effect to the Offering, Socius owns 26,195,671 Shares representing approximately 11.74%% of the total issued and outstanding Shares. In addition, Socius holds securities that are exercisable by the Company under certain conditions, into up to an additional 14,274,166 Shares, or an additional 6.4% of the total issued an outstanding Shares, calculated on a fully-exercised basis.

Socius has purchased these securities for investment purposes and may increase or decrease the investment in these securities depending on future market conditions.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Socius CG II Ltd.

For further information:

Patricia Aguirre (310) 444-4346

Profil de l'entreprise

Socius CG II Ltd.

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