Mystique Energy Closes $2.5 Million Financing

TSX-Venture Exchange: MYS

CALGARY, Feb. 23 /CNW/ - Mystique Energy, Inc. ("Mystique") announces
that the private placement, which was previously disclosed in press releases
dated February 6 and February 8, 2006, has closed. Three million, nine hundred
thousand (3.9 million) flow-through common shares were issued at $0.65 per
share for gross proceeds of $2.535 million. The issued shares are subject to a
four-month hold period which will expire on June 24, 2006.
Mystique will renounce Canadian Development Expenses to subscribers who
will be entitled to claim deductions for income tax purposes in 2006 and
subsequent years. The private placement was completed on a best efforts basis
by Acumen Capital Finance Partners Limited.
As a result of this financing, Mystique has 48.6 million shares
outstanding and 60.3 million shares fully diluted.
Proceeds of the offering will be used to fund part of Mystique's 2006
drilling program in the Harmattan, Lochend, Bottrel and Wildcat Hills areas,
located northwest of Calgary. Mystique is currently drilling the third well of
its 2006 program. The first two wells have been cased and are waiting on
completion operations.
Based in Calgary, Mystique is involved in the exploration and
exploitation of petroleum reserves in western Canada.

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