Suroco Energy Inc. - Payment of finders fee for private placement
CALGARY, Jan. 12 /CNW/ - Suroco Energy Inc. (TSX Venture Exchange: SRN)
(the "Corporation") announces that further to its press release dated November
11, 2005 where it announced completion of a non brokered private placement
(the "Private Placement") of units ("Units") at a price of $0.44 per Unit, the
Corporation has paid an additional finders fee in the amount of $188,620.22.
The total finders fee paid by the Corporation under the Private Placement was
$342,620.22. Aggregate gross proceeds of $7,161,490.16 were raised through the
The Corporation intends to use the proceeds of the Private Placement to
fund the acquisition, exploration and development of oil and natural gas
properties. The Corporation is focusing on target properties located in
Belize, the United States (mainly onshore in Texas and the Gulf Coast areas)
and potentially in Canada and other international jurisdictions.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
For further information: Jeffrey Scott, President and Chief Executive
Officer of the Corporation at: Telephone: (403) 232-6252, Fax: (403) 264-7455