Poplar Point Energy Inc. Completes Third Tranche of Unit Financing


    CALGARY, Nov. 13 /CNW/ - Poplar Point Energy Inc. ("Poplar Point" or the
"Company") is pleased to announce that it closed the final tranche of the
previously announced private placement of 30,000,000 units (the "Units") at a
price of $0.25 per Unit for gross proceeds of $7,500,000. 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. This third and final tranche is
in addition to the second tranche of 6,000,000 Units that closed on
October 11, 2007 and the initial tranche of 12,000,000 Units that closed on
September 10, 2007.
    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
issuance. In addition, a finder's fee of $375,000 was paid to an arm's length
third party.
    The securities issued pursuant to the offering are subject to a four
month hold period expiring March 3, 2008.
    "In the last two months Poplar Point has raised over $13 million. Raising
that kind of money in this kind of environment is a tribute to the expertise
of our team and reflects the confidence investors have in our ability to
continue to create shareholder value," said Brad Nichol, President and CEO of
Poplar Point.

    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.

    %SEDAR: 00010719E

For further information:

For further information: Brad Nichol, President, (403) 532-2411

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