/NOT FOR DISTRIBUTION IN THE UNITED STATES/
CALGARY, Oct. 19 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce that it has
closed a private placement for gross proceeds of $222,250. Vital issued
4,445,000 common shares at a price of $0.05 per common share. All securities
issued in connection with this private placement are subject to a four month
hold period that expires on February 17, 2008. The proceeds of the private
placement will be used to fund Vital's capital commitments and for general
David Robinson, Chairman of the board of Vital and D.R.R. Capital
Corporation, a company controlled by David Robinson, subscribed for 400,000
common shares and 500,000 common shares respectively. Vital has determined
that an exemption from the valuation and minority approval requirements of the
Ontario Securities Commission Rule 61-501 is available as the common shares
offered pursuant to the private placement and the consideration received by
Vital from the insiders and related parties does not exceed $2,500,000.
After giving effect to the private placement, Vital has 37,258,600 common
shares issued and outstanding.
The CNQ Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Vital Resources Corp., Kevin Worth, Investor
Relations, Phone: (403) 668-1645, Email: email@example.com, Website:
www.vitalrescorp.com; Syndicated Capital Corporation, A. Salman Jamal, Phone:
(604) 694-1994, Toll Free: 1-888-410-1994, Email: firstname.lastname@example.org,