CALGARY, Aug. 27 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV: URX) is pleased to announce the filing of its unaudited consolidated financial statements for the three and six months ended June 30, 2008, and the Management's Discussion and Analysis ("MD&A") dated August 26, 2008.
An electronic copy of these documents may be obtained on Unitech's SEDAR profile at www.sedar.com. To the extent investors do not have access to the internet, copies of the materials can be obtained on request without charge by contacting Unitech.
Unitech also announces that it has made a correction to the number of common shares ("Common Shares") and flow-through common shares ("Flow-Through Shares") that were previously announced as being issued under its non-brokered private placement that was completed in two tranches on July 22, 2008 and July 28, 2008. Due to a clerical error, Unitech issued 100,000 less Common Shares and 100,000 less Flow-Through Shares than previously disclosed. As a result, Unitech issued a total of 5,699,100 Common Shares at a price of $0.05 per Common Share and a total of 5,402,671 Flow-Through Shares at a price of $0.07 per Flow-Through Share for aggregate gross proceeds of $663,142. Unitech currently has a total of 41,488,661 Common Shares issued and outstanding.
About Unitech Energy Resources Inc.
Unitech uses its proprietary image analysis and pattern recognition system, called Leadscan, for a 'first look advantage' that drives Unitech's exploration strategy. Please visit Unitech's website at www.leadscan.ca. Shares of Unitech are listed for trading on the TSX Venture Exchange under the symbol URX.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include but are not limited to risks inherent in the oil and gas industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. Unitech undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.
The TSX Venture Exchange has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this release.