/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
CALGARY, Sept. 17 /CNW/ - Poplar Point Energy Inc. ("Poplar Point" or the
"Company") is pleased to announce that it closed a private placement on
September 10, 2007 of 12,000,000 units (the "Units") at a price of $0.25 per
Unit for gross proceeds of $3,000,000. Each Unit consists of one common share
in the capital stock of the Company ("Common Share") and one share purchase
warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common
Share of Poplar Point at an exercise price of $0.25 for a period of 24 months
from the date of issuance. The subscriber of the Units, may, subject to
certain conditions, subscribe for additional units within 30 days of the
closing on the same terms.
Union Securities Ltd. acted as agent on the offering and received a cash
commission and broker warrants equal to 6% of the number of securities placed
by the agent under the Offering. Each broker warrant will be exercisable at a
price of $0.25 for one Common Share for a period of 24 months from the date of
The securities issued pursuant to the offering are subject to a four
month hold period expiring January 11, 2008.
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. All
dollars in this release are in Canadian funds.
For further information:
For further information: Poplar Point Energy Inc., Brad Nichol,
President, (403) 532-2411