Cobra Venture Corporation Announces $300,000 Private Placement and Grant of Stock Options

Cobra Venture Corporation (the "Corporation") (TSX VENTURE:CBV) announces that
it plans to complete a non-brokered private placement of up to 2,000,000 common
shares in the capital of the Corporation issued on a "flow-through basis" (the
"FT Shares") at a price of $0.15 per FT Share, for gross proceeds of up to
$300,000 (the "Offering").


The Offering is subject to receipt of all necessary regulatory approvals,
including the approval of the TSX Venture Exchange (the "TSXV"). The securities
issued pursuant to the Offering will be subject to a four (4) month hold period.
Closing of the Offering is expected to occur on or about June 21, 2010. Net
proceeds of the Offering are intended to be used by the Corporation to fund
ongoing exploration programs of the Corporation. It is anticipated that certain
insiders of the Corporation will participate in the Offering.


Further, the Corporation announces that it is granting 600,000 stock options to
current directors, officers and consultants of the Corporation. The stock
options permit each individual to purchase common shares of the Corporation
("Common Shares") at an exercise price of ($0.175) per Common Share, a price
which equals the close of market trading price on May 25, 2010 (the last day the
Common Shares traded on the TSXV), for a period of five (5) years from the date
of issuance. One quarter (1/4) of the options granted to each of the foregoing
persons will vest immediately, with a further one quarter (1/4) to vest on the
six, twelve and eighteen month anniversary of the granting of the options.


Cobra Venture Corporation is an emerging energy corporation focused on the
acquisition and development of strategic oil and natural gas reserves in Western
Canada. Common shares of the corporation trade on the TSX Venture Exchange under
the symbol CBV. 


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any sate securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


Cautionary Statements 

Certain statements contained in this release constitute forward-looking
information. These statements relate to future events or future performance. The
use of any of the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking
information and are based on the Corporation's current belief or assumptions as
to the outcome and timing of such future events. Actual future results may
differ materially. In particular, this release contains forward-looking
information relating to the intention of the parties to complete the Offering,
including the amount and use of the gross proceeds, the participation of
insiders in the Offering and the anticipated closing date of the Offering.
Various assumptions or factors are typically applied in drawing conclusions or
making the forecasts or projections set out in forward-looking information.
Those assumptions and factors are based on information currently available to
the Corporation. The material factors and assumptions include being able to
obtain the necessary director and regulatory approvals and Exchange policies not
changing. Risk Factors that could cause actual results or outcomes to differ
materially from the results expressed or implied by forward-looking information
include, among other things: conditions imposed by the Exchange, the failure to
obtain the required directors' approval to the proposed Offering; general
economic and business conditions; and changes in the regulatory regulation. The
Corporation cautions the reader that the above list of risk factors is not
exhaustive. The forward-looking information contained in this release is made as
of the date hereof and the Corporation is not obligated to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws. Because
of the risks, uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained herein.
Cobra Venture (TSXV:CBV)
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