Spirit Energy Announces Private Placement

Spirit Energy (SPI-TSX Venture) proposes, subject to Stock Exchange approval, to privately place 1,250,000 common shares with Sprott Asset Management Inc., a Canadian Fund Manager, at a price of $1.60 per share.

The $2.0 million proceeds of the private placement will be used in the Company's land acquisition process and for general corporate purposes.

Spirit Energy Corp. is a natural resource company focusing on the exploration and development of opportunities in the natural gas from coal ("NGC", also referred to as coalbed methane or "CBM") sector of the energy industry.
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 - Spirit Energy Announces Private Placement (Apr 16)