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Road Town, Tortola, British Virgin Islands (April 13, 2007) – CIC Energy Corp. (“CIC” or the “Company”)(TSX:ELC, BSE: CIC Energy) reported a loss for the three month period ended February 28, 2007 of $1,023,738 or $0.02 per share (basic and diluted).
The loss for the three month period is attributable to non-capitalized exploration expenditures, administration and personnel costs as well as the cost of a bought deal private placement, the completion of which was announced by the Company on February 23, 2007.
Capitalized exploration costs amount to $53,960,952, with exploration costs for the three month period totaling $5,857,645.
Consolidated Interim Financial Statements for the three months ending February 28, 2007, along with Management’s Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
For additional information on CIC and its projects visit the Company’s website at www.cicenergycorp.com or contact:
Erica Belling, CFA, P.Eng.
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Email: ebelling@taucapital.com
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