Encore Energy Partners LP (ENP)

[Tackler]

Beter be an Inco or BHP... Enpar nears deal on $500,000 placement at 20 cents

2006-11-07 19:31 ET - News Release

Dr. Gene Shelp reports

ENPAR ANNOUNCES NEGOTIATIONS FOR PRIVATE PLACEMENT

Enpar Technologies Inc. is completing negotiations with arm's-length parties for a private placement. Under the private placement agreement the company will receive up to $500,000 in new funds. The private placees will subscribe for 2.5 million units of Enpar. Each unit subscribed consists of one common share of the company and one share purchase warrant. The price of each common share is 20 cents and will be subjected to a statutory hold period. The share purchase warrants will entitle the holder to acquire one additional common share of Enpar at a price of 30 cents for a period of two years following the closing of the transaction. The company anticipates that the agreement will close shortly.

The company will pay a 10-per-cent finder's fee to White Knight Capital Corp.