CALGARY, Alberta and DENVER, Oct. 21 /CNW/ -- Storm Cat
Energy Corporation (Amex: SCU; TSX.V: SME) announced that it has confirmed the
size of its previously announced private placement financing. The Company has
agreed to sell to U.S. and Canadian investors 5,092,328 common shares of the
Company at a price of US$2.15 per share. In addition, each investor will
receive a common share warrant exercisable for three tenths (3/10) of a common
share, for each common share purchased in the private placement, and each full
warrant will be exercisable for a period of two years at an exercise price of
US$2.52 per share. The closing of the financing is subject to the acceptance
of the TSX Venture Exchange and satisfaction of customary terms and
conditions.
The securities offered in the private placement have not been registered
under the Securities Act of 1933 or any state securities laws, and unless so
registered may not be offered or sold in the United States, except pursuant to
an exemption from, or in a transaction subject to, the registration
requirements of the Securities Act of 1933 and applicable state securities
laws. This press release is issued pursuant to Rule 135(c) of the Securities
Act of 1933, and does not constitute an offer to sell, or the solicitation of
an offer to buy, nor shall there be any sale of the common shares or warrants
in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such jurisdiction.
About Storm Cat Energy
Storm Cat Energy is an independent oil and gas company focused on the
pursuit, exploration and development of large unconventional gas reserves from
fractured shales, coal beds and tight sand formations. The Company has
producing properties in Wyoming's Powder River Basin, exploitation/development
acreage in Canada and Alaska, and high-risk, high-reward exploration acreage
in Mongolia. The Company's shares trade on the American Stock Exchange under
the symbol "SCU" and in Canada on the TSX Venture Exchange under the symbol
"SME."
By Order of the Board of Directors
Storm Cat Energy Corporation
J. Scott Zimmerman
President and Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
