CALGARY, Oct. 28 /CNW/ - Angus A. Mackenzie and a company wholly-owned by
Mr. Mackenzie advised that they have acquired an additional 1,000,000 common
shares of Scimitar Hydrocarbons Corporation (``Scimitar'). All of the shares
were acquired pursuant to a seizure of shares which were hypothecated to Mr.
Mackenzie. The shares were acquired for investment purposes. As a result of
the transaction, Mr. Mackenzie and the company wholly-owned by Mr. Mackenzie
own an aggregate 4,050,000 common shares which represents 13% of the issued
and outstanding common shares of Scimitar. In addition, Mr. Mackenzie also
holds options to acquire an aggregate 650,000 common shares of Scimitar
granted pursuant to Scimitar's stock option plan. As disclosed in a rights
offering circular of Scimitar dated September 28, 1999, Mr. Mackenzie
presently intends to exercise his rights to acquire common shares pursuant to
the rights offering.
The Alberta Stock Exchange neither approves nor disapproves the
information contained herein.
-0- 10/28/1999
/For further information: Ms. Melita Dalgado, Investor Relations, Tel:
1-800-933-8855, Tel: (403)543-0333, Fax: (403) 543-0344,
scimitar.ab.ca
(SIY.) |
