CALGARY, Jan. 4 /CNW/ - Blackpool Exploration Ltd. (BPX.A:TSX Venture Exchange) announces that on December 29, 2006, it closed on the sale of Units announced in the Company's Press Release dated December 19, 2006. The Company issued a total of 3,042,000 Units for gross proceeds of $760,500.00 Each Unit, priced at $0.25, consists of one common share issued on a flow-through basis and one-half of one share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company at a price of $0.40 per share on or before December 29, 2008. The Company paid cash finders fees totaling $53,220.00 and issued a total of 227,360 warrants entitling the finders to purchase 227,360 common shares of the Company at a price of $0.25 per share on or before December 29, 2008.
This financing has not resulted in a change of control of the Company. Insiders of the Company did not participate in the financing.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.