| | | Fri Sep 9, 2011
News Release
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| | NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C., September 9, 2011 - Pennant Energy Inc. ("Pennant") (TSX Venture symbol - "PEN") announces it has arranged a non-brokered private placement to raise up to $250,000 on a flow-through basis as to a share only at the price of $0.14.
The funds raised shall be used for general exploration expenditures which will qualify as expenses under paragraph 66 (12.66) (b) of the Income Tax Act (Canada) on the Company's the Bigstone Project located NW of Edmonton, Alberta in accordance with the provisions of the Company's earn-in agreement with Donnybrook Energy Inc.
A finder's fee may be paid pursuant to the financing, in accordance with the policies of the TSX Venture Exchange.
The above is subject to the approval of the regulatory authorities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
On behalf of the Board of Directors of
PENNANT ENERGY INC.
Signed: Thomas Yingling
___________________________
Thomas Yingling, President
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." |
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