Canadian Oil Recovery & Remediation Enterprises Ltd. (TSXV:CVR) announced a private placement of 50,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 2,500,000 on January 2, 2015. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the company at an exercise price of CAD 0.075 for a period of three years from closing.

All of the common shares and warrants issued are subject to a statutory four-month hold period in accordance with applicable securities laws.