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Published on 3/20/2008 in the Prospect News PIPE Daily.

New Issue: Crown Oil and Gas wraps $5.05 million private placement of units

By Devika Patel

Knoxville, Tenn., March 20- Crown Oil and Gas Inc. said it settled a $5.05 million private placement of units.

The company sold 5.05 million units at $1.00 each. The units consist of one common share and one warrant. Each whole two-year warrant is exercisable at $1.50 for the first year and at $2.00 thereafter.

Crown is based in Seattle.

Issuer:Crown Oil and Gas Inc.
Issue:Units of one common share and one warrant
Amount:$5.05 million
Units:5.05 million
Price:$1.00
Warrants:One warrant per unit
Warrant expiration:Two years
Warrant strike price:$1.50 for the first year, $2.00 thereafter
Settlement date:March 17
Stock symbol:OTCBB: CWOI
Stock price:$1.25 at close March 19

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