Brownstone Announces Financing Increase

Brownstone Ventures Inc. (TSX VENTURE:BWN) reported that the company has increased the size of its proposed non-brokered financing as a result of investor interest to up to 17,000,000 units at a price of $0.55 per Unit for aggregate gross proceeds of up to $9,350,000.

The press release is quoted as saying:

Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 295km2 in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil; a 50% interest in approximately 300,000 hectares in the Qu?bec Lowlands; a 15% participating interest in two off-shore Israel oil and gas blocks; and is earning interests (14-35%) in 4 Colombian blocks in the Llanos basin.

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