/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, April 26 /CNW/ - Platform Resources Ltd. (the "Company")
(TSXV: PFM) is pleased to announce that, subject to regulatory approvals, it
intends to increase the maximum amount of its proposed non-brokered private
placement to $5.0 million (the "Private Placement") by issuing up to
10,000,000 common shares on a "flow through" basis (the "Shares") at a price
of $0.50 per Share.
On April 10, 2007, the Company originally proposed a non-brokered private
placement in the amount of $3.0 million. However, due to the interest
received, the Company will now, subject to regulatory approvals, increase the
aggregate amount to $5.0 million. 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 now expected to
close on or about May 3rd, 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.
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.
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, email@example.com; Company