Candax Energy Inc. (the "Company") is pleased to announce the closing of a private placement (the "Private Placement") of 13,607,000 special warrants ("Special Warrants"), with each Special Warrant being exchangeable by the purchaser thereof, for no additional consideration, for one common share of the Company, subject to usual anti-dilution adjustments. The Private Placement, which closed on November 22nd, 2004, resulted in total proceeds to the Company of C$3,401,750.
The Company wishes to take this opportunity to thank its investors for their support and confidence in the Company's team and strategy. The Company looks forward to rewarding its investors through the acquisition of interests in international oil and gas exploration and development properties.
The Company looks forward to the continued enthusiasm and support of its investors.
For further information, please contact:
John Clarke, Executive Vice President, Corporate
Tel: (416)368-9137
Fax: (416)364-5400
Email : jclarke@candax.com
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