New Issue: Storm Cat Energy enters market with C$2.4 million private placement of units

By Sheri Kasprzak

Atlanta, Nov. 2 - Storm Cat Energy Corp. said Tuesday it plans to raise C$2.4 million in a brokered private placement and an additional C$1 million in a non-brokered deal.

Haywood Securities Inc. will act as agent to raise the C$2.4 million through the placement of 1,920,500 units of one share and one half-share purchase warrant at C$1.25 per unit.

The warrants are good for one year and allow for the purchase of an additional share at C$1.55.

In the non-brokered deal, the company will issue up to 800,000 units of one share and one half-share purchase warrant at C$1.25 per unit. The one-year warrants allow for the purchase of an additional share at C$1.55.

Storm Cat is a Calgary, Alta.-based natural gas development company. The proceeds from both deals will be used for general exploration, land acquisition and working capital.

Brokered

Issuer:	Storm Cat Energy Corp.
Issue:	Unit of one share and one half-share purchase warrant
Amount:	C$2.4 million
Shares:	1,920,500 units
Price:	C$1.25 per unit
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$1.55
Placement agent:	Haywood Securities Inc.
Announcement date:	Nov. 2
Stock price:	C$1.55 at close Nov. 1
Non-brokered
Issuer:	Storm Cat Energy Corp.
Issue:	Unit of one share and one half-share purchase warrant
Amount:	C$1 million
Shares:	800,000 units
Price:	C$1.25 per unit
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$1.55
Announcement date:	Nov. 2
Stock price:	C$1.55 at close Nov. 1

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