EBY Emerald Bay Energy Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Emerald Bay Energy Inc. (TSX VENTURE:EBY) (the "Corporation" or "Emerald Bay")
today reported that the Corporation has closed the first tranche of its
previously announced private placement. Pursuant to the private placement,
3,000,000 units ("Units") were issued at a price of $0.05 per Unit, for
aggregate consideration of $150,000. Each Unit consisted of one (1) Common Share
of the Corporation and one (1) share purchase warrant (the "Warrant") (each full
Warrant shall entitle the holder thereof to purchase one (1) additional Common
Share of the Corporation for a period of 12 months from the issuance of the
Units at a price of $0.05) (the "Offering"). The Warrants are subject to an
acceleration clause whereby if after four months and one day following the date
the Warrants are issued, the closing price of the Common Shares of the
Corporation on the principal market on which such shares trade is equal to or
exceeds $0.10 for 30 consecutive trading days (with the 30th such trading date
hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry
date shall accelerate to the date which is 30 calendar days following the date a
press release is issued by the Corporation announcing the reduced warrant term,
provided, no more than five business days following the Eligible Acceleration
Date: (i) the press release is issued; and (ii) notices are sent to all warrant
holders. 


The net proceeds will be used for exploration and expansion of the Corporation's
South Texas property and general working capital needs. 


A finder's fee of $5,000 was paid to Brant Securities Limited along with the
issuance of 100,000 finder's options (the "Finder's Options"). Each Finder's
Option is exercisable for a period of 12 months from the date of issuance into
one Unit of the Corporation (on the same terms and conditions as those received
by the subscribers under this Offering) at $0.05 per Unit.


All of the Common Shares and Warrants issued pursuant to the private placement
are subject to a 4-month hold period. Completion of the private placement is
subject to the final approval of the TSX Venture Exchange.


About Emerald Bay

Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with
production properties in Western Canada and South Texas. The common shares of
Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please
visit our website at www.emeraldbayenergy.com. 


If you would like to receive press releases via email please contact
robin@chfir.com. Please specify "Emerald Bay press releases" in the subject
line.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Emerald Bay Energy Inc.
Shelby D. Beattie
President
(403) 262-6000
info@ebyinc.com
www.emeraldbayenergy.com


CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079 x228
robin@chfir.com

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