Emerald Bay Energy Inc. has closed its previously announced private placement. Pursuant to the private placement, 4,841,730 units (Units) were issued at a price of $0.07 per Unit, for aggregate consideration of $338,921 (of which 428,571 Units were purchased for an aggregate $30,000 by certain directors of the Corporation).

Each Unit consisted of one (1) common share of the Corporation and one (1) share purchase warrant (the "Warrant") (each full Warrant entitles 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 $0.10) (the "Offering").

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