CXZ Canext Energy Ltd

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Canext Energy Ltd. ("Canext" or the "Company") (TSX VENTURE:CXZ) is pleased to
announce that it has closed its previously announced bought deal private
placement financing of 7,500,000 common shares at a price of $0.80 per share and
4,210,600 flow-through common shares at a price of $0.95 per share for gross
proceeds of $10,000,070. This includes the full exercise of the underwriters'
option for an additional 2,500,000 common shares. Wellington West Capital
Markets Inc. acted as lead underwriter for a syndicate which included Tristone
Capital Inc., Macquarie Capital Markets Canada Ltd. and Acumen Capital Finance
Partners Limited.


Concurrently, Canext closed a non-brokered financing of 125,000 common shares at
a price of $0.80 per share and 422,000 flow-through common shares at a price of
$0.95 per share for gross proceeds of $500,900. Officers and Directors of the
Company subscribed for all of the common shares and 324,000 of the flow-through
common shares.


The shares issued in conjunction with these financings are subject to a four
month hold period which expires on October 26, 2008. Following the closing of
this financing the Company has 88,485,493 common shares issued and outstanding.


The net proceeds of the share offering will be used initially to pay down debt
and general working capital purposes. The Company is starting its summer program
with the drilling of Montney vertical and horizontal wells at Pouce Coupe. The
proceeds of the flow-through portion of the financing will be used to incur
qualifying Canadian Exploration Expenditures at Clear Prairie and Pouce Coupe on
exploration wells and seismic. Canext is also expecting to close its previously
announced non-core property disposition for proceeds of $6,000,000 on June 30,
2008. After the closing the Company expects to provide guidance on an expanded
capital program.


Reader advisory:

Investors are cautioned that the preceding statement of the Company may include
certain estimates, assumptions and other forward-looking information. The actual
future performance, developments and/or results of the Company may differ
materially from any or all of the forward-looking statements, which include
current expectations, estimates and projections, in all or part attributable to
general economic conditions and other risks, uncertainties and circumstances
partly or totally outside the control of the Company, including natural gas/oil
prices, reserve estimates, drilling risks, future production of gas and oil,
rates of inflation, changes in future costs and expenses related to the
activities involving the exploration, development and production of gas and oil
hedging, financing availability and other risks related to financial activities.

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