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Road Town, Tortola, British Virgin Islands (February 23, 2007): CIC Energy Corp. (“CIC” or the “Company”) (TSX:ELC, BSE: CIC Energy) has closed the bought deal private placement, previously announced by the Company on February 8, 2007.
Westwind Partners Inc., along with Canaccord Capital Corp. (the “Underwriters”) exercised their option to purchase an additional 533,333 common shares, resulting in CIC issuing a total of 2,200,000 common shares at CDN$15.00 per common share, for gross proceeds of CDN$33,000,000. The Company plans to use the net proceeds of this financing for general corporate purposes.
For additional information on CIC please visit the Company’s website at
www.cicenergycorp.com or contact:
Fiona Childe, Ph.D., P.Geo.
VP Corporate Communications
Tau Capital Corp.
Tel: (416) 361-9636 x 227
Email: fchilde@taucapital.com
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