New Sage Energy Announces Closing of Private Placement

New Sage Energy Corp. (TSX VENTURE:NSG) ("New Sage" or the "Corporation")
announces that it has completed a private placement involving the issuance of
13,287,200 units at a price of $0.05 per unit for gross proceeds of $664,360
(the "Private Placement"). 


Each unit (the "Unit") consists of one common share in the capital of the
Corporation (the "Common Shares") and one-half of one warrant (the "Warrant"),
with each whole Warrant entitling the holder thereof to purchase one Common
Share at a price of $0.10 per share for a period of 24 months from the date of
closing.


Finder's fees of a total of $22,575 and 465,500 Broker Options were paid to
non-related parties. The Broker Options entitle the holder to one Unit at an
exercise price of $0.05 per Broker Option. The Broker Options expire 24 months
from the date of issuance.


The Corporation intends to use the net proceeds from the Private Placement for
new projects, acquisitions and development activities, as well as for general
working capital and the payment of expenses related to the Private Placement.


The Common Shares and Warrants underlying the Units issued pursuant to the
closing of the Private Placement are subject to a four month hold period in
accordance with applicable securities law.


About New Sage

New Sage is a Canadian oil and gas exploration and development company with a
focus on opportunities in the US Gulf States region and Latin America. New Sage
is building a portfolio of production, through exploration and development
opportunities, with established joint venture partners.


Forward-Looking Statements 

This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially from those
anticipated by New Sage. The forward-looking statements or information contained
in this news release are made as of the date hereof and New Sage does not
undertake any obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws. 


The securities of New Sage being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.

New Sage Energy Corp. (TSXV:NSG)
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