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News Release |
Eurasia announces $1 million private placement Aberdeenshire, UK Scotland, June 20, 2007 Eurasia Energy Limited (“Eurasia”) (OTC-BB:EUEN) announces a $1 million private placement of 4,000,000 units at $0.25 per unit. Each unit consists of one common share and one share purchase warrant exercisable into one additional common share of the Company at $0.25 per share for a period of 24 months from closing. Partial proceeds of the private placement will be used to fund the Company’s defense of the Commercial Action which has been brought against it by Commonwealth Oil & Gas Company Limited in the Court of Session in Scotland. In the event the Company is successful in its defense of this legal action, remaining proceeds will be used in the Company’s ongoing search for oil and gas investment and exploration opportunities. BY ORDER OF THE BOARD “(signed) Nicholas W. Baxter” Nicholas W. Baxter President, C.E.O. and Director Forward-Looking Statements This news release may include certain forward-looking statements including, but not limited to, projections of revenue, income or loss and capital expenditures, statements regarding future operations, financing needs, plans relating to products or services of the Company, assessments of materiality, predictions of future events and the effects of pending and possible litigation, as well as assumptions relating to the foregoing. In addition, when used in this discussion, the words “anticipates'', “believes'', “estimates'', “expects'', “intends'', “plans'', “should'', and variations thereof and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the Company's ability to manage rapid growth as a result of internal expansion and strategic acquisitions, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, the regulatory environment, fluctuations in operating results and other risks. "Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995 This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
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