Hemisphere Energy Corporation Closes Final Tranche of Private Placement

Fri Jan 25, 2013 5:58pm EST

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Marketwire

Hemisphere Energy Corporation

January 25, 2013 - 05:57:40 PM

Hemisphere Energy Corporation Closes Final Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2013) - 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION
OF U.S. SECURITIES LAW.

Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce the
second and final tranche closing of its non-brokered private placement
announced December 6, 2012 (the "Private Placement") and has issued 86,900
units at a price of C$0.65 per unit for gross proceeds of C$56,485. 

Each unit issued in the final tranche closing of the Private Placement
consists of one common share and one-half (1/2) of a non-transferable warrant,
with each whole warrant to entitle the holder to purchase one common share at
the price of C$0.90 per share until January 25, 2014. 

All securities issued today are subject to a hold period expiring on May 26,
2013. 

In conjunction with the final tranche closing of the Private Placement,
Hemisphere issued 700 finders' warrants, each entitling the holder to purchase
one common share at $0.90 until January 25, 2014. The company also paid 7% in
cash finders' fees on a portion of the funds raised under the Private
Placement.

The net proceeds of the Private Placement will be used to fund drilling and
other capital expenditures in Hemisphere's Jenner property in southeast
Alberta and for general corporate purposes.

The final tranche closing of the Private Placement is subject to final
regulatory approval.

About Hemisphere Energy Corporation

Hemisphere Energy Corporation is a junior exploration and production company
focused on developing core areas that provide low to medium risk drilling
opportunities to increase production, reserves and cash flow. Hemisphere's
continued growth plan is through drilling existing prospects and executing
strategic acquisitions and farm-ins. Hemisphere trades on the TSX Venture
Exchange under the symbol "HME".

Forward-looking Statements

This news release contains "forward-looking statements" that are based on
Hemisphere's current expectations, estimates, forecasts and projections. These
forward-looking statements include statements regarding the closing of the
Private Placement, Hemisphere's outlook for our future operations, plans and
timing for the commencement or advancement of exploration and development
activities on our properties, and other expectations, intention and plans that
are not historical fact. The words "estimates", "projects", "expects",
"intends", "believes", "plans", or their negatives or other comparable words
and phrases are intended to identify forward-looking statements. Such
forward-looking statements are subject to risks, uncertainties and other
factors that could cause actual results to differ materially from future
results expressed or implied by such forward-looking statements. Many of these
factors are beyond the control of Hemisphere. Consequently, all
forward-looking statements made in this news release are qualified by this
cautionary statement and there can be no assurance that actual results or
developments anticipated by Hemisphere will be realized. For the reasons set
forth above, investors should not place undue reliance on such forward-looking
statements. Hemisphere disclaims any intention or obligation to update or
revise forward-looking information, whether as a result of new information,
future events or otherwise.

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy the securities in any jurisdiction. The securities offered
hereby have not and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold in the United States except in certain
transactions exempt from the registration requirements of the U.S. Securities
Act and applicable state securities laws.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Hemisphere Energy Corporation
Don Simmons
President & Chief Executive Officer
(604) 685-9255
info@hemisphereenergy.ca
www.hemisphereenergy.ca




        

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term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
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