Canadian Oil Recovery & Remediation Enterprises Ltd. has closed the second and final tranche of its previously announced private placement financing of units (each an "Equity Unit") with the issuance of an aggregate of 2,444,444 Equity Units for gross proceeds of $330,000.

An aggregate of 4,481,484 Equity Units have been issued under this offering at a price of $0.135 per Equity Unit for total gross proceeds of $605,000. Each Equity Unit consists of one common share of CORRE (a "Common Share") and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at a price of $0.235 for a period of 3 years from the date of issuance.

Tags: Canadian Oil Recovery and Remediation Enterprises Ltd. (CORRE)