EX-99.2
13
v050486_ex99-2.htm
CUSIP#
138 748 108
Trading
Symbol: OTC BB CWPC
NEWS
RELEASE
FOR
RELEASE: August 15, 2006
CanWest
Petroleum announces closing of private placement
Calgary,
Alberta -- CanWest Petroleum Corporation (OTC BB: CWPC) announced today
that it
has completed a non-brokered private placement of 3.9 million common shares
at a
price per share of $3.80 US for aggregate gross proceeds of $14,820,000
US
($16,604,328 Cdn). The lead investor in the private placement was the Resolute
Performance Fund, based in Toronto, Ontario.
CanWest
Petroleum intends to use the proceeds of the private placement to fund
the
purchase of the 2.5 percent gross overriding royalty on Oilsands Quest's
permit
lands, which purchase is expected to be completed on August 15,
2006.
Oilsands
Quest is a subsidiary of CanWest Petroleum. The common shares have not
been
registered under the United States Securities Act of 1933, as amended (the
"Securities Act"),
or the
laws of any state of the United States,
and may
not be offered or sold in the United States or to "U.S.
persons"
(as
such term is defined in Regulation S under the Securities Act) absent
registration
or an
applicable exemption from registration.
Following
its combination with Oilsands Quest and this private placement, CanWest
Petroleum has approximately 183,468,196 issued and outstanding common shares
(including common shares underlying 57,349,388 Exchange Shares of Oilsands
Quest) and, on a fully diluted basis, 236,065,234 common shares.
Safe
Harbor statement under the Private Securities Litigation Reform Act of
1995:
Except for historical information contained herein, the matters discussed
in
this news release are forward-looking statements that involve risks and
uncertainties, including but not limited to economic, competitive, governmental
and technological factors affecting the companies' operations, markets,
products
and prices, and including other factors discussed in CanWest Petroleum
Corporation's various filings with the Securities and Exchange
Commission.
For
more information:
Institutional
investors, contact The
Buick
Group
Toll Free
Office
Email
1-877-748-0914
416-915-0915
jbuick@buickgroup.com
Retail
investors, contact Hedlin Lauder Investor Relations Ltd.
Toll Free
Office
Email
1-800-299-7823
403-232-6251
investorrelations@hedlinlauder.com

EX - 99 . 2 13 v050486 _ ex99 - 2 . htm CUSIP # 138 748 108 Trading Symbol : OTC BB CWPC NEWS RELEASE FOR RELEASE : August 15 , 2006 CanWest Petroleum announces closing of private placement Calgary , Alberta -- CanWest Petroleum Corporation ( OTC BB : CWPC ) announced today that it has completed a non - brokered private placement of 3 . 9 million common shares at a price per share of $ 3.80 US for aggregate gross proceeds of $ 14,820,000 US ( $ 16,604,328 Cdn ) . The lead investor in the private placement was the Resolute Performance Fund , based in Toronto , Ontario . CanWest Petroleum intends to use the proceeds of the private placement to fund the purchase of the 2 . 5 percent gross overriding royalty on Oilsands Quest 's permit lands , which purchase is expected to be completed on August 15 , 2006 . Oilsands Quest is a subsidiary of CanWest Petroleum . The common shares have not been registered under the United States Securities Act of 1933 , as amended ( the " Securities Act " ) , or the laws of any state of the United States , and may not be offered or sold in the United States or to " U . S . persons " ( as such term is defined in Regulation S under the Securities Act ) absent registration or an applicable exemption from registration . Following its combination with Oilsands Quest and this private placement , CanWest Petroleum has approximately 183,468,196 issued and outstanding common shares ( including common shares underlying 57,349,388 Exchange Shares of Oilsands Quest ) and , on a fully diluted basis , 236,065,234 common shares . Safe Harbor statement under the Private Securities Litigation Reform Act of 1995 : Except for historical information contained herein , the matters discussed in this news release are forward - looking statements that involve risks and uncertainties , including but not limited to economic , competitive , governmental and technological factors affecting the companies ' operations , markets , products and prices , and including other factors discussed in CanWest Petroleum Corporation 's various filings with the Securities and Exchange Commission . For more information : Institutional investors , contact The Buick Group Toll Free Office Email 1 - 877 - 748 - 0914 416 - 915 - 0915 jbuick@buickgroup.com Retail investors , contact Hedlin Lauder Investor Relations Ltd . Toll Free Office Email 1 - 800 - 299 - 7823 403 - 232 - 6251 investorrelations@hedlinlauder.com