Result Energy Inc. Announces Closing of $0.5 million Private Placement

About this update from Route 109 Resources Inc.

[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 28 /CNW/ - Result Energy Inc. ("Result", RTE-X) announces\nthat on December 28, 2007 it completed an expedited non-brokered private\nplacement of common shares which consisted of 1,250,000 common shares issued\non a flow-through basis for income tax purposes at $0.40 per share (the\n"Placement"). The gross proceeds of $500,000 are intended to be used to\nfinance exploration and development activities, and for general corporate\npurposes. Result is required to incur qualifying expenditures totaling\n$500,000 by December 31, 2008 and will renounce this amount of Canadian\nExploration Expenses ("CEE") to subscribers effective December 31, 2007.\n\n\nThe securities issued will be subject to a four-month hold period from\nthe date of closing. Following completion of this placement, Result has\n56,141,638 common shares outstanding.\n\n\nResult Energy Inc. is a publicly traded Canadian energy company involved\nin the exploration and development of oil and gas properties in western\nCanada. Result trades on the TSX Venture Exchange under the symbol "RTE".\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nand accuracy of this release.\n\n\n%SEDAR: 00012334E\n\n\n","length":1318,"tagName":"div"}]

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