AVG Avidian Gold Corp

Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG), today
announces that it has completed a private placement financing for aggregate
gross proceeds of approximately $1,202,500 subject to final acceptance by the
TSX Venture Exchange. Pursuant to the private placement 2,312,499 common shares
of the Corporation were issued at a price of $0.52 per common share. The
Corporation has paid a 7% cash commission of $84,175 to Ironwood Energy Capital
(HK) Ltd. in connection with the financing.


The common shares issued pursuant to the private placement will be subject to a
four- month hold period expiring on April 21, 2010.


The Corporation will use the proceeds of the private placement to fund ongoing
operations and for general administrative purposes.


There are 20,864,453 common shares of Avatar outstanding following the
completion of the financing.


Avatar is an emerging junior oil and gas company with production in Alberta. The
Corporation's area of focus is on properties in the Pembina Cardium light oil
play that have long life high quality reserves with repeatable drilling upside.

Avidian Gold (TSXV:AVG)
Historical Stock Chart
From Jan 2025 to Feb 2025

Avidian Gold (TSXV:AVG)
Historical Stock Chart
From Feb 2024 to Feb 2025