Exceed announces closing on private placement


    CALGARY, June 29 /CNW/ - Exceed Capital Holdings Ltd. ("Exceed" or the
"Company") is pleased to announce that it has completed the second and final
closing of its previously announced brokered private placement. The initial
closing comprised 4,700,000 Units at a price of $0.10 per Unit for gross
proceeds of $470,000. The total gross amount raised pursuant to both closings
was $1,500,000 through the issuance of 15,000,000 Units. Leede Financial
Markets Inc. (Leede) acted as Agent for the offering which included Blackmont
Capital Inc. in the banking group. Each Unit is comprised of one Class A
common share and one warrant, with each warrant exercisable into Class A
common share for a period of eighteen months after closing at an exercise
price of $0.20 per share. The securities issued in connection with the private
placement are subject to a hold period expiring October 30, 2007. The gross
proceeds are intended to be used to fund Exceed's share of drilling costs on
the Jorf prospect in Tunisia and for working capital.
    Leede received a fee equal to 10% of the proceeds of the offering along
with an option to acquire 470,000 Units at a price of $0.10 per Unit until
November 11, 2008.
    The securities will not be registered with the US Securities and Exchange
Commission and may not be offered or sold within the United States without
registration or an applicable exemption from the registration requirements of
the United States Securities Act of 1933 and any applicable state securities
    Exceed is continuing to assemble a portfolio of international oil and gas
exploration opportunities in Western Europe, Australia and North Africa. The
Company is focused on growing shareholder value through international
exploration in countries with significant exploration potential and developed
fiscal and legal regimes.
    The common shares of Exceed Capital Holdings Ltd. are listed on the TSX
Venture Exchange under the symbol XED.A. There are 135,094,982 shares issued
and outstanding.

    Forward-looking Statements

    This press release contains forward-looking statements concerning the
Company's expectations of future cash flow, earnings and expansion of its oil
and gas property interests and concerning the Company's regulatory
applications and proposed financing. These statements are based on current
expectations that involve a number of risks and uncertainties, which could
cause actual results to differ from those anticipated. These risks include,
but are not limited to: the risks associated with the oil and gas industry
(e.g., operational risks in development, exploration and production; delays or
changes in plans with respect to exploration or development projects or
capital expenditures; the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), acquisitions, commodity price, price
and exchange rate fluctuation and uncertainties resulting from competition
from other producers and ability to access sufficient capital from internal
and external sources. Additional information on these and other risk factors
that could affect the Company's operations and/or financial results are
included in the Company's reports on file with Canadian securities regulatory
authorities. The reader is cautioned not to place undue reliance on these
statements, as there can be no assurance that the plans, intentions or
expectation upon which they are based will occur. By their nature,
forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the
possibility that the predications, forecasts, projections and other
forward-looking statements will not occur or that actual results would differ
materially from estimated or implied results.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.

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

For further information:

For further information: Mr. Richard W. DeVries, President, Tel: (718)
874-8319, Fax: (403) 770-8810

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