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Non-Brokered Private Placement
CALGARY, ALBERTA, Thursday 31st May 2007 " Consolidated Beacon Resources Ltd. (the "Company" or "Beacon") is pleased to announce that it has arranged a non-brokered private placement in the amount of Cdn $600,000 at a price of $0.05 per unit. Each unit will consist of one common share and one full warrant, with an exercise price on the warrant of $0.10 for a period of two years. Proceeds from this financing will be used for general working capital and continued development of its California oil and gas prospect located in the San Joaquin Basin."
Consolidated Beacon's Board of Directors comprises:
Mr. John G.F. McLeod, P. Eng., Chairman, of Calgary.
Mr. Richard J. Hawes, P. Geol., Secretary, of Calgary.
Mr. Gil Schneider, of Vancouver.
About Consolidated Beacon Resources Ltd.
Consolidated Beacon Resources Ltd. is a Calgary, Alberta based corporation in the business of evaluating and acquiring oil and natural gas properties for exploration and development in Canada and the United States.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by the Corporation on SEDAR (www.sedar.com), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Corporation undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.
Contact: Gordon Beach
I.R. Communicators, Inc.
(403) 651-2314
Email: gordbeach@shaw.ca
Richard J. Hawes
Consolidated Beacon Resources Ltd.
(403) 221-8392 Email:
kbc1@telus.net
Website: www.consolidated-beacon.com
