Platform Resources Inc. Announces $3,000,000 non-brokered private placement financing



    CALGARY, April 10 /CNW/ - Platform Resources Ltd. (the "Company")
(TSXV: PFM) is pleased to announce that, subject to regulatory approvals, it
intends to raise approximately $3.0 million in a non-brokered private
placement financing (the "Private Placement") by issuing up to 6,000,000
common shares to be issued on a "flow through" basis (the "Shares") at a price
of $0.50 per share. Insiders of the Company are expected to subscribe for
approximately 1,200,000 Shares. There is no minimum number of Shares that must
be subscribed for under the terms of the Private Placement for the Private
Placement to close and the Company may have more than one closing in respect
of the Private Placement. The Private Placement is expected to close on or
about May 1, 2007. Under the terms of the Private Placement, the Company may
pay certain fees in connection with the financing on terms and conditions
determined by the Company and in accordance with the policies of the TSX
Venture Exchange.
    Proceeds from the Private Placement will be used to fund the exploration
and development of the Company's oil and gas properties in Western Canada
including its Athabasca oil sands lands.

                 Company website:

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

    Not for dissemination in the United States of America. This news release
shall not constitute an offer to sell or the solicitation of any offer to buy
securities of Platform in any jurisdiction, including the United States. The
common shares of Platform 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 have not been and will not be offered or sold
in the United States or to any U.S. person except in certain transactions
exempt from the registration requirements of the U.S. Securities Act and
applicable state securities laws.

    %SEDAR: 00020297E

For further information:

For further information: Platform Resources Inc., Suite 2800, 350 - 7th
Avenue S.W., Calgary, Alberta, T2P 3N9; Shabir Premji, President & CFO, T:
(403) 232-3341, F: (403) 263-6702,

Organization Profile


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