SERVICE SECTOR / Destiny Resource Services Warrant Redemption
DESTINY RESOURCE SERVICES CORP. ANNOUNCES RESULTS OF
PURCHASE WARRANT REDEMPTION
CALGARY, AB--
Destiny Resource Services Corp. ("Destiny") announced today that
995,000 of the Company's 1,000,000 redeemable Purchase Warrants
("Warrants") had been exercised prior to the scheduled expiry
date of June 25,1998. The 995,000 "Warrants", which were
exercised, represented approximately 99.50% of the total Warrants
outstanding and resulted in the issuance of 995,000 Shares and
aggregate proceeds of $1,890,500 to the Company. The Company now
has 10,242,773 shares outstanding.
The Company intends to use the proceeds from the exercise of the
Warrants to augment its working capital.
Destiny Resource Services Corp. is a Calgary-based oilfield
service company providing specialized front-end services for
exploration, production and seismic acquisition companies in
selected markets worldwide. Destiny has operations in North and
South America, the Middle East, Africa and Southeast Asia, and
serves a customer base that includes many of the largest
integrated energy and geophysical companies in the world. |
