Nextraction Announces Non-Brokered Private Placement

Marketwired

VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/21/12)- Nextraction Energy Corp. (TSX-V: NE.V - News) (the "Company" or "Nextraction"), announces that it intends to issue, through a non-brokered private placement (the "Private Placement"), up to 5,333,333 units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of up to $1,600,000. Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one non-transferable Common Share purchase warrant (a "Warrant"). Each Warrant will entitle its holder to purchase one additional Common Share (a "Warrant Share") at a price of $0.35 for a period of twenty-four months following the date of closing. The Company may pay finder's fees on a portion of the Private Placement of up to 6% of the aggregate proceeds received from places introduced to the Company by the finder.

The closing of the Private Placement is expected to be on or about March 2, 2012, subject to the receipt of all necessary regulatory approvals including from the TSX Venture Exchange. Net proceeds from the Private Placement will be used for repayment of the outstanding Anthem Loan, further development of the Company's Provost Viking light oil project and general corporate purposes. The Anthem Loan will be further extended until closing of the Private Placement.

The Common Shares, Warrants and Warrant Shares issued or issuable under the Private Placement will be subject to a four month hold period.

This news release does not constitute an offer to sell or a solicitation to buy securities in the United States. The securities described herein have not been and will not be registered under the United States Act of 1933, as amended, and may not be sold in the United States or to the benefit of a U.S. person absent and exemption from the registration requirements of such Act.

About Nextraction Energy Corp.

Nextraction Energy Corp. is a Canadian junior oil and natural gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian Basin. The Company's model is the "next round of extraction on known plays". Nextraction targets oil focused projects along trends with known reserves that provide low risk, high return development opportunities in both conventional and unconventional resource projects.

READER ADVISORY

Certain statements made and information contained herein may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. These statements relate to future events or the Company's future performance. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "may have", "could", "would", "might" or "will" be taken, occur or be achieved. Although management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements speak only as of the date of this Press Release and are expressly qualified, in their entirety, by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:

Nextraction Energy Corp.
Scott Badcock
CFO
1-587-899-3274
Info@Nextraction.com
www.nextraction.com

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