September 30, 2009 (FinancialWire) — Culane Energy Corp. (TSX Venture: CLN) has closed its previously announced bought deal private placement of 1,397,000 “flow-through” common shares at an issue price of $2.15 per share for gross proceeds to the company of $3 million.

Jennings Capital Inc. acted as the sole underwriter for the offering. The proceeds of the offering will be used to incur eligible flow-through expenditures on Culane’s exploratory oil prospects. The “flow-through” common shares will be subject to a 4 month hold period expiring on January 30, 2010.

Culane is a junior oil and gas company engaged in the exploration, development and production of oil and natural gas in western Canada.

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