COBRA VENTURE GRANTS 34-CENT OPTIONS

December 17, 2007

Mr. Daniel Evans reports

COBRA VENTURE CORPORATION ANNOUNCES GRANT OF STOCK OPTIONS

Cobra Venture Corp. has granted 500,000 stock options to current directors, officers and consultants of the corporation. The stock options permit each individual to purchase common shares of the corporation at an exercise price of 34 cents per option, a price which equals the close-of-market trading price on Dec. 17, 2007, for a period of five years from the date of issuance. One-quarter of the options granted to each of the foregoing persons will vest immediately, with a further one-quarter to vest on the six-, 12- and 18-month anniversaries of the granting of the options.