Vancouver, British Columbia – Regent Ventures Ltd. (TSXV: REV) ("Regent") announces that it has agreed to a non-brokered private placement of up to $326,643 of its securities consisting of the sale of up to 32,664,300 units of its securities at a price of $0.01 per unit, each unit consisting of one common share and one non-transferable share purchase warrant, each such warrant entitling the holder to acquire one additional common share of the Company at a price of $0.05 per share for one year.
The proceeds from the private placement will be used to pay: interest due on its outstanding promissory notes, accounting and transfer agent fees, certain property maintenance expenses and related income tax payments; operating costs for the next three months and a proposed program to test the gas potential of the two wells drilled in Louisiana.
REGENT VENTURES LTD.
Per: "Douglas Eacrett" Douglas Eacrett, CFO
Contact:Penthouse 8 – 1060 Alberni Street,Vancouver, BC V6E 4K2Telephone (604) 669-7775Fax: (604) 687-3581Website: www.regentventures.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.