2009-08-10-2008-04-01

To buy co., gaining 28% WI in 39,000-acre S. Stoney Creek property.

Canadian Imperial Venture Corp., St. John's, Newfoundland, (Toronto Venture: CQV) plans to acquire Shoal Point Energy Ltd. for approximately C$1 million in stock, consisting of approximately 100 million common shares. SPE shareholders will hold approximately 20% interest in the company. SPE assets include a 28% working interest in the 39,000-acre South Stoney Creek property in New Brunswick, with an option to earn an additional 12% interest. The property contains several wells that have flowed gas to surface at significant rates. Pro forma, the merged entity will hold a minimum of 50% and a maximum of 68% working interest in Exploration Licence 1070, which contains the Shoal Point and Lourdes prospects. Closing is expected by the end of May.