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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Bearcatbob who wrote (9985)11/7/2002 9:26:06 AM
From: Al Collard   of 11802
 
IEY-t...in the news:

Impact Energy Inc. Announces $4 Million Flow-Through Common Share Financing

Not for distribution to U.S. newswire services or for dissemination in
the United States. Any failure to comply with this restriction may
constitute a violation of U.S. securities law.

CALGARY, Nov. 7 /CNW/ - Impact Energy Inc. ("Impact" or the "Company")
announced today that it has entered into a bought deal private placement of
2,222,222 flow-through common shares at a price of $1.80 per common share for
total gross proceeds of $4 million. The underwriting of the private placement
is being led by Griffiths McBurney & Partners and includes Yorkton Securities
Inc., FirstEnergy Capital Corp., BMO Nesbitt Burns Inc. and National Bank
Financial.
The net proceeds received from the sale of the common shares will be used
to assist in funding Impact's ongoing natural gas exploration program.
Impact Energy Inc. is a "full-cycle" natural gas exploration company
uniquely positioned with a number of "high impact" opportunities on its large
undeveloped land base. Coincident with the large reserve potential associated
with these prospects is the deeper drilling depths of its targets. The "high
impact" nature of these prospects and the Company's size present a unique
risk/reward profile. Impact's common shares trade on The Toronto Stock
Exchange under the symbol, "IEY".
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