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Crown Point Ventures Ltd. (the “Company”) (TSX.V: CWV) announces that it has negotiated a
$2,052,000 private placement, to consist of the sale of 3,600,000 units at a price of $0.57 per
unit. Each unit will consist of one common share and one share purchase warrant, with each
warrant to entitle the holder to purchase one additional common share for a period of 2 years
from closing, at an exercise price of $0.75 during the first year, and at an exercise price of $1.00
during the second year.
The proceeds from this private placement, which is subject to regulatory acceptance, will be used
for working capital purposes, including conducting exploration for oil and gas in Argentina
subsequent to the Company’s acquisition of 100% of the issued and outstanding shares of an
Argentinian company involved in the oil and gas industry in Argentina, as disclosed in the
Company’s November 1, 2006 News Release.
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