Result Energy Inc. Announces Closing of $2.6 Million Private Placement

About this update from Route 109 Resources Inc.

[{"type":"text","content":"\n\n\n\nCALGARY, Jan. 5 /CNW/ - Result Energy Inc. ("Result", RTE-X) announces\nthat on December 31, 2008 it completed an expedited non-brokered private\nplacement of common shares, which consisted of 12,869,345 common shares issued\non a flow-through basis for income tax purposes at $0.20 per share (the\n"Placement"). The gross proceeds of $2,573,869 is intended to be used to\nfinance exploration activities, and for general corporate purposes. Result is\nrequired to incur qualifying expenditures totaling $2,573,869 by December 31,\n2009 and will renounce this amount of Canadian Exploration Expenses ("CEE") to\nsubscribers effective December 31, 2008.\n\n\nResult will pay finder's fees totalling $179,120 to third parties for\nobtaining subscriptions to the Placement, pursuant to TSX Venture Exchange\npolicies. The securities issued will be subject to a four-month hold period\nfrom the date of issuance. Following completion of this placement, Result has\n85,492,868 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\nand accuracy of this release.\n\n\n","length":1458,"tagName":"div"}]

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