Cedar Mountain investor Chebry buys 1.35 million shares

2008-12-23 12:25 ET - News Release

Mr. Charles Chebry reports

ACQUISITION OF SHARES OF CEDAR MOUNTAIN EXPLORATION INC.

Cedar Mountain Exploration Inc. investor Charles Chebry has purchased, on Nov. 5, 2008, 1.35 million units of Cedar Mountain at a price of 15 cents per unit, pursuant to a private placement of Cedar Mountain which closed in two tranches on Nov. 5, 2008, and Dec. 19, 2008. Each unit issued pursuant to the offering consisted of one common share and one warrant, with each warrant being exercisable into one common share at price of 25 cents for a period of 12 months from the date of issuance.

The acquisition was made for investment purposes. Mr. Chebry may increase or decrease its investment in Cedar Mountain depending on market conditions or any other relevant factors.

Following the offering, Mr. Chebry, together with his spouse and CC Management Inc., a wholly owned company of Mr. Chebry, beneficially owns 3,505,525 common shares representing 18.9 per cent of the issued and outstanding shares of Cedar Mountain.

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