Canadian Oil Recovery and Remediation Enterprises Ltd. announces that its previously announced private placement financing of units (each an "Equity Unit"), for total proceeds of $750,000 is ongoing.

To date, an aggregate of 2,037,040 Equity Units have been issued at a price of $0.135 per Equity Unit for total proceeds of $275,000. 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)